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What are private keys?

Moving around Bitcoin is very easy, but in the background an important part of moving and storing Bitcoin involves something called a ‘private key’. The easiest way to understand private keys is to think about an old-fashioned mailbox system: Let’s…

· 2 minute read

Are Bitcoin and other cryptocurrencies used by criminals?

There is often public misconception that Bitcoin is mostly used by criminals, but nothing could be further from the truth. This is mainly because many people think Bitcoin is anonymous, when in fact it’s the opposite – all Bitcoin transactions…

· 2 minute read

How do crypto projects get funded?

ICO The most well-known form of crypto funding is the Initial Coin Offering (ICO). This is where a new project can raise funds by selling their own cryptocurrency tokens. Each token is essentially the blockchain equivalent of a share in…

· 1 minute read

What is a peer to peer network?

A peer-to-peer (P2P) network is a group of 2 or more devices – for example, mobile devices, computers or even printers – that are set up in such a way that they can share certain data with each other. There’s…

· 1 minute read

What is the hash function?

Where fiat currencies are issued by central banks, new Bitcoins are “issued” to miners via a block reward for solving a block. They do this by using special hardware to solve a complex computational problem, which produces a seemingly-random 64…

· 1 minute read

Can we see the transactions in a blockchain network?

The blockchain is a shared public ledger and transactions can be viewed by anyone. There are a number of websites, called blockchain explorers, that visualise transactional data from the blockchain. All transactions that have ever occurred on the blockchain are…

· 1 minute read

What does Bitcoin hashrate mean?

In order to understand the hash rate and its functions, you first need a basic understanding of Bitcoin mining. Bitcoin mining is a computerised process with three main functions: Issue new Bitcoins Confirm transactions Ensure the Bitcoin network remains secure…

· 1 minute read

How many Satoshis make a Bitcoin?

A dollar is divided into 100 cents, a pound is divided into 100 pence, a Yuan is divided into 10 jiao and a jiao is divided into 10 fen… so what’s a Bitcoin divided into? A Bitcoin is divided into…

· 1 minute read