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Introduction to crypto currency

Get answers to all the big cryptocurrency questions. Where did they come from? How do they work? 

  • What is a mining pool?

    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…

    1 minute read
  • What is proof of stake?

    While the Bitcoin blockchain acts as a virtual cheque book and ledger to process incoming and outgoing transactions, Proof-of-Stake is a type of consensus protocol that relies on a network of ‘validators’ with similar responsibilities to miners: ordering transactions and…

    1 minute read
  • What is a testnet?

    In blockchain technology, a testnet is designed to test different improvements in the blockchain without the risk of causing any problems with the network. It can also act as an environment where dapp developers can test their decentralised applications. With…

    1 minute read
  • What is the mainnet?

    yet up and running. It is used by programmers and developers to test out new features or search for problems in their application or blockchain network. 

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  • What is DeFi?

    Instead of your local bank holding your money, restricting who you can and can’t transfer it to and charging you fees for using their services, in a decentralised environment, you hold your funds in a secure digital wallet and can send money from anywhere in the world to anyone in the world almost instantly, just by having access to an internet connection. 

    1 minute read
  • What is a Dapp?

    Decentralised applications (Dapps) are just like the applications you use everyday on your smartphone. However, in the context of cryptocurrencies, instead of a mobile phone, these Dapps run on a blockchain network in a public, open-source and decentralised environment. 

    1 minute read
  • What is an on-chain transaction?

    An on-chain transaction takes place on a blockchain without the help of a second-layer protocol and remains dependent on the state of the blockchain to validate it.

    1 minute read