Category: Non-technical

How to Read the Bitcoin Whitepaper

Overview On October 31st, 2008, Satoshi Nakamoto graced the world with his vision for a peer-to-peer electronic cash system called Bitcoin. The cryptocurrencies we use today started with this abstract and the ideas contained within. I highly recommend anyone interested in Bitcoin or other open blockchain projects read the original whitepaper, but it can be

HD Wallets – BIPs and Terminology

Overview The advent of HD wallets has made key management a far easier task for cryptocurrency users. These “Hierarchical Deterministic” wallets can generate an infinite amount of private keys and addresses from a single seed, eliminating the need for the periodic backups required by the old-style, nondeterministic wallets. Despite the ease of backup, there are

Comparing Major Mining Algorithms

Overview As it stands, all of the top cryptocurrencies (Bitcoin Cash, Ethereum, Litecoin, and Bitcoin) use proof-of-work mining to secure their networks. With proof-of-work, special nodes on the network called miners use their computing power to try and solve a mathematical problem. This problem is designed so that a miner has to do a bunch

Common Address Encoding Formats

Overview When sending money to someone else using Bitcoin, Bitcoin Cash, Ethereum, or another cryptocurrency, you send funds to the other user’s address. This unique identifier for the other user’s wallet may look like a “random” string of letters and numbers, like this: 13GuDW2Km8TR6iCYP8E5QGhNky2ne7T17r. (Note: this is just a random address; don’t use it!). But

Beginning Bitcoin – Sending Funds From Your Wallet

Overview Getting started with Bitcoin isn’t as intimidating as it would seem. In another tutorial, we discussed how to get started with a mobile wallet, using Bitcoin.com’s app or the Coinomi wallet. We learned how to install the wallet, safely back up our funds using the seed phrase, and get an address for loading up

Beginning Bitcoin – Getting Started with Mobile Wallets

Overview For someone that’s completely new to the concept of digital money, all the information out there can get a tad overwhelming. Fortunately, getting a practical start in using cryptocurrencies is actually fairly trivial with modern mobile wallets! Installing a proper wallet is the first step in a safe and successful journey into the crypto