As we dive into the world of blockchain and cryptocurrencies, you may have come across a term that has been gaining significant attention lately: Non-Fungible Tokens, or NFTs. As your teacher, I’m excited to break down what NFTs are, how they differ from cryptocurrencies, and why they’re an important part of the blockchain ecosystem. First…
Bitcoin was the first cryptocurrency, created by an individual or a group of people under the pseudonym Satoshi Nakamoto, back in 2009. It was supposed to be a decentralized digital currency that allowed peer-to-peer transactions to take place independently of any kind of banks and governments. It is, at its very base, an online…
The world of cryptocurrency can be overwhelming, especially when we dive into the technical aspects of it. As your teacher, I’m excited to break down two fundamental concepts that will help you better understand how cryptocurrencies work: private keys and public keys. When we talk about cryptocurrency, we often hear about wallets, exchanges, and…
The world of altcoins! As a teacher, I’m excited to dive into this topic with you, exploring what altcoins are, how they differ from Bitcoin, and why they’re an essential part of the cryptocurrency landscape. So, let’s start with the basics. Altcoins, short for alternative coins, refer to any cryptocurrency that isn’t Bitcoin. Yes,…
Mining is a crucial concept in the world of cryptocurrency and blockchain technology. In simple terms, mining refers to the process of validating transactions on a blockchain network and adding them to the public ledger, known as the blockchain. This process involves solving complex mathematical puzzles, which requires significant computational power. To understand how…
The concept of decentralization is a fundamental aspect of blockchain technology, and understanding its purpose is crucial for grasping the true potential of this innovative system. At its core, decentralization refers to the distribution of power, control, and decision-making authority across a network, rather than relying on a single, centralized entity. In traditional systems,…