Introduction to cryptocurrency

Chainlink is a decentralised network for cryptocurrency data providers that need data for their smart contracts. Ethereum is a blockchain platform that facilitates smart contracts which developers use to build dapps and services. 

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.

A public blockchain network is a network open to everyone with no restrictions.

An off-chain transaction takes place outside of the blockchain, and is often defined as a second-layer protocol.

A private blockchain operates by invitation only and is often run by an entity or ‘trusted intermediary’.

Bitcoin manages to solve this issue thanks to confirmations and its proof of work consensus mechanism.

Cryptography is the key to blockchain technology and allows the storage of huge numbers of transactions and protect them from hackers.

An unspent transaction output (UTXO) is the amount of digital currency left over after a cryptocurrency transaction.

An atomic swap is the process of exchanging cryptocurrencies between different blockchains. 

The Byzantine Generals Problem describes the difficulty of achieving consensus in distributed systems.

Anti-money laundering (AML) practices monitor and report suspicious activities to prevent money laundering and terrorist financing.

Where did Bitcoin come from? Who created it and why? What is its purpose? Could one person have really created it? These are common questions within the cryptocurrency community.