Articles & Terms
Why Bitcoin Matters - Marc Andreesen's now famous NYT article that gives a great overview on Bitcoin and potential use cases. (link)
Bitcoin Whitepaper - The original white paper from the anonymous Bitcoin founder; a must read in getting started with crypto. (link)
Explain Bitcoin Like I'm Five - Making the blockchain as simple as eating apples on a park bench. (link)
A Look at Blockchain Tech - Easy to follow infographic from PWC covering blockchain, cryptocurrency, and potential use cases. (link)
Ethereum is the Forefront of Digital Currency - Fred Ersham from Coinbase gives a great overview on Ethereum: the World Computer, and it's potential impact. (link)
Fat Protocols - Blog post from Union Square Ventures on the underlying value of blockchain protocols vs. apps. (link)
Bitcoin: Ringing the Bell for a new Asset Class - Adam White & Chris Burniske make a compelling argument on adding cryptocurrencies as an asset class to your portfolio. (link)
Blockchain - A decentralized immutable ledger that is secured through cryptography and maintained by miners
Bitcoin - The first cryptocurrency created by Satoshi Nakamoto in 2008.
Ethereum - Created in 2015 is the 2nd largest cryptocurrency by market cap. It's differentiator is a higher level programming language called solidity to develop applications called smart contracts
Cryptocurrency - a form of digital value that is used to motivate miners to validate transaction in the blockchain. Value increases with adoption, perceived value, and speculation. Each individual currency represents a distinct blockchain.
Mining - The process of creating a digital currency. The process includes: 1. verifying transactions within the blockchain 2. bundle transactions in a block 3. link one block of data to the next block by way of a hash 4. solve the Proof of Work problem 5. add the block to the local blockchain. Once verified, 25 bitcoins is then added to the miners account
Immutable - cannot be altered or changed
Ledger - Record of transactions
Proof of Work - A Process to verify a transaction is valid, which is critical to mining. A valid transaction is one in which the value has not been previously spent.
Token - a coin that resembles stake in an application built on top of a blockchain. Most easily compared to stock of a company. Used in ICOs to raise money for a new venture.
Smart Contracts - Applications with a state stored in the blockchain. They can facilitate, verify, or enforce the negotiation or performance of a contract, or that make a contractual clause unnecessary. Smart contracts have been made possible on the ethereum platform. This has made Ethereum a competitor to BItcoin. This technology is what financial institutions are currently evaluating that could bring cryptocurrencies into the Enterprise.