Cryptocurrencies

A multi-sig wallet requires several signatures to gain access, sign, and send a cryptocurrency transaction.

A BIP (Bitcoin Improvement Proposal) is the document standard used for proposing changes to Bitcoin.  Proposals are usually first roughly outlined using a mailing list of developers, where feedback and their feasibility are assessed before a decision is made to…

Bitcoin that is “lost” refers to wallet owners that have lost access to their private keys. Critics argue that this is a vulnerability of Bitcoin and cryptocurrencies. If users lose access to their wallets, there is no way to recover…

Bitcoin is created through a process called mining. Using supercomputers, these miners confirm transactions on the Bitcoin blockchain and are rewarded for their efforts in the form of newly-created Bitcoin. These payments are called block rewards.  Through a process called…

Bitcoin miners are much like the Ringo Starr of the crypto market. Quite literally hidden in the background or network in our example, miners aren’t usually at the forefront of any discussions or articles you may have read about Bitcoin….

The process of mining gold can be understood as it is a mineral found deep underground that can only be reached and salvaged using mining equipment. But can the same be said for something that only exists on computers?  While…

The more active miners there are on a blockchain, the harder the mining process is, with fewer rewards given each time a new block is mined. Mining pools were created in order to deal more effectively with the increasing difficulty…

Proof-of-work is a consensus mechanism used to confirm transactions on Bitcoin and other networks.

Segregated Witness (SegWit) refers to a process to reduce the requirements for processing Bitcoin transactions by allowing information to be processed more efficiently to speed up the network. Specifically this refers to digital signatures used to verify transactions, which take…

Proof-of-stake is a type of consensus protocol that relies on a network of ‘validators’ with similar responsibilities to miners.

Bitcoin’s price is linked directly to supply and demand, and events that impact the economy on a national and global level impact people’s need to buy or own (hodl) the cryptocurrency. When the economy is in a funk investors tend…

A non-fungible token (NFT) is a one-of-a-kind digital asset. It cannot be replaced and is unique.