Introduction to cryptocurrency

Fiat currency is money issued by a central bank, cryptocurrency is digital money governed by blockchain, computer code, the crypto community.

A fork in cryptocurrency occurs when software updates need to be implemented. The more far-reaching the changes, the more controversial the fork. As with any metaphorical fork in the road, at some point there needs to be a decision on…

Blockchains are designed to operate without the need of a middleman, with each recorded transaction requiring every node operating on the network to verify and confirm that it’s correct. Understanding who made the transaction is simple – with the use…

The proof of activity consensus protocol combines the best features of both proof of work (PoW) and proof of stake (PoS) in order to increase the security of Bitcoin and other cryptocurrencies.  Created in 2014, the protocol begins by instructing…

A fork is a collectively agreed upon software update to a cryptocurrency built on blockchain. In order for a proposed update to any cryptocurrency, such as Bitcoin, to be implemented, there must be consensus among members of the Bitcoin community,…

If you’ve been around the cryptocurrency space for a while, you may have seen dips and spikes of more than 10% in the price. This is because, compared to other assets such as gold, which has been around for centuries…

A node is simply any computer that runs a copy of the Bitcoin software and is used to verify transactions on the blockchain.

Consensus protocols are the rules by which a network operates. In the case of a blockchain network, the consensus protocol provides the rules by which a transaction on the network is verified as legitimate or fraudulent. As the nature of…

Proof of Elapsed Time (PoET) is a proof of work consensus protocol designed specifically for businesses. The way it works is by randomly selecting a participating node, allowing those not selected to “rest” their Central Processing Units (CPUs) or getting…

Mono-sig cryptocurrency wallets will require one signature (or ‘key’) to gain access, sign, and send a cryptocurrency transaction.

We all go through the process of downloading and installing updates to our phones or laptops. Cryptocurrency also relies on similar updates and upgrades to improve its efficiency. However, while it may take just a few clicks or taps of…

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…