Bitcoin for beginners: brief overview of the technology
Bitcoin. Blockchain. Mining. If you haven’t come across these words in the last few months, chances are that you may just be living under a rock. This year has been all about cryptocurrency—from the skyrocketing valuation of Bitcoin to the rise of mining farms around the world, to thefts in the tens of millions of dollars. Despite its rapid rise in popularity in today’s world, many still don’t understand the concept of cryptocurrency. Just an online search will leave you befuddled with the information overload, and I can vouch for that. When I first started, I was inundated with jargon and concepts, which left me more confused than I was at the start. But after scrolling through many forums, articles, and infographics, I realised that while learning the in-depth working of cryptocurrencies requires sound technical knowledge, learning its basics is rather simple. In this article, I’ve covered the absolute basics of cryptocurrency: why was it created? How does it work? What gives it ...