Understanding How a Cryptocurrency Wallet Works A cryptocurrency wallet is a secure digital wallet used to store, send, and receive digital currency like Bitcoin. Most coins have an official wallet or a few officially recommended third party wallets. In order to use any cryptocurrency you will need to use a cryptocurrency wallet. Below we discuss how . . . read more
Cryptocurrency is a general name referring to all encrypted decentralized digital currency like Bitcoin. Cryptocurrency uses cryptography to create coins and secure transactions. Typically cryptocurrencies are open source with pubic, but encrypted ledgers of all transactions.
There are a number of cryptocurrencies traded in markets, and the growing popularity means that despite volatile prices, market caps and values are growing every year.
Popular cryptocurrencies include the original Bitcoin, Ethereum’s Ether, and Litecoin.
Cryptocurrency is legal and taxable in the US, but it isn’t legal tender (you can’t pay your taxes in Bitcoin). With that said, due to its infancy and history so far, cryptocurrencies should be invested in and used with their historical volatility in mind.
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Learn everything you need to know about mining Litecoin in 30 minutes or less.
Cryptocurrency can get pretty technical, but the basics couldn’t be any simpler. A digital ledger keeps track of money in accounts. People transfer money for goods and services, and math handles the rest.
Proof-of-stake is an alternative to the computationally wasteful, alas effective, proof-of-work system used to protect cryptocurrency mining from spammers and hackers.
In cryptocurrency, proof-of-work is system that uses hard-to-compute but easy-to-verify functions to limit exploitation of cryptocurrency mining. How Does Proof-of-Work Work? A proof-of-work system’s hash function – the algorithm used to find a solution to the computational puzzle – is simple to calculate an output for if given an input, but it is nearly impossible to do . . . read more
Understanding how cryptocurrency works on a basic level is rather simple, but digging into the details can be a little more heady given the many cryptocurrency types. On this page we give an overview of the basics.
Cryptocurrency is a decentralized digital currency that uses encryption. It is an alternative form of currency to the more common centralized currency like the USD which is regulated by a centralized Government.