Crypto newbie and how to survive!
When I first heard about cryptocurrencies and blockchains, the technology behind them seemed very foreign to me. But I was excited by the possibilities they could bring.
I didn’t know anything about hashes, peer-to-peer networks, or mining. I tried reading through the original Bitcoin paper, but found the elegant mathematical proofs difficult to follow.
At first, it seemed like something only geeks who enjoyed technology and computer science talked about. I was interested in hearing more about it, so I did some research and began following the news on it.
After reading countless articles, watching countless videos and engaging in debates with other crypto enthusiasts over which blockchain platform will be best for the future of finance, the sheer multitude of information out there was overwhelming. There are tens of thousands of crypto projects and millions of potential investors trying to quickly understand what crypto is all about.
The technology behind Bitcoin and other cryptocurrencies can be complex, but some of the most interesting aspects are actually quite simple to understand. For example, a blockchain is a ledger where transactions are recorded publicly and chronologically. Miners confirm these transactions, and in doing so, compete to add the next set of transactions into the blockchain.
The concept of no central oversight is completely new. But it promises to change the world just like how email changed the way we communicate and how the internet changed how we acquire information. Things will never be the same again, I’m exited to see where this is going, after all, to me, the blockchain is more like a world unfolding in front of my eyes than a community of people!
Right now, the cryptocurrency and blockchain space is experiencing an explosive growth; so if you’re at all curious about these dynamic technologies but haven’t yet taken the plunge, now’s the time to do so.