Cryptocurrency Explained

February 16th, 2016

cryptocurrency explained

Some of us have a good understanding of exactly what cryptocurrency is and others of us, not so much. In the simplest of forms, cryptocurrency is digital currency. Put another way, cryptocurrency is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. Bitcoin became the first cryptocurrency back in 2009. Today there are hundreds of of them often referred to as altcoins.

For those of you who want to understand the basics of cryptocurrency here are a few resources that provide an overview. Check out, A Brief Attempt at Explaining the Madness of Cryptocurrency by Mariella Moon of Engadget.

Want to dig deeper? Learn about cybercurrency mining in the infographic, The Bitcoin Game. Watch the video, What is Bitcoin Mining?