Category: Non-technical

Full Node Friends – Understanding and Running A Fully Validating Wallet

Overview In previous tutorials, we’ve discussed the basic differences between a full node wallet and an SPV or Simplified Payment Verification wallet. Now let’s take a further look into why full nodes are important to cryptocurrency networks, and how you can get started running one! Why Full Nodes? Full nodes, along with mining nodes form

Understanding Address Balances for UTXO Blockchains

Overview When you open your Bitcoin, Bitcoin Cash, or Litecoin wallet, you’ll see a balance just like you do when you open your bank app. At the end of the day, you just want to know how much currency you own, right? You may be curious, however, how your total balance is calculated in the

What’s in Your Wallet? Understanding Private Key Control

Overview Just like your cash, cards, and ID, your cryptocurrency assets live in something called a “wallet”. Most all forms of digital money implement this concept in some form, and understanding wallets is critical to safely storing and using your favorite digital currency. Much like your physical wallet, your Bitcoin, Monero, or Ethereum wallet gives

BIP39 Mnemonics Made Easy (Part 1 – Backups, Simplified!)

Overview A critical component of cryptocurrency security is the ability for users to easily and efficiently backup the private keys that control access to their funds on the blockchain. Without one’s private keys, any funds in a user’s addresses are irrecoverably lost. However, the nature of early wallets made backing up one’s private keys a

Proof of Work, Explained (Part 1 – POW for Non-Techies)

Overview Personally, I’m fascinated by both the technical and financial implications of cryptocurrencies like Bitcoin, Bitcoin Cash, and Litecoin (to name a few). The way these currencies work is a complex topic, with lots of moving parts to discuss. One of the core components of cryptocurrencies like Bitcoin is the mechanism by which an entirely