Welcome to our getting started guide on cryptocurrencies for beginners.
A few things you should know:
- The first cryptocurrency, Bitcoin, is about nine years old! It was created in 2009 as free, open source software written by an anonymous “Satoshi Nakamoto”.
- There are now hundreds of different cryptocurrencies in existence today.
- Most, but not all, cryptocurrencies allow anyone to participate in creating new coins using computers, called “mining”. This helps to secure the decentralized network.
- The fundamental technology used by cryptocurrencies is called “blockchain”. It might be surprising but blockchain is also useful in all sorts of other sectors than finance, including real estate, government, health care and more!
- Some cryptocurrencies and related projects were started by “Initial Coin Offerings”. These allow early investors to participate in crowdfunding new ideas and applications and are regulated.
Here are some great places to dive into learning more cryptocurrencies:
Other important ideas to explore in more depth are Blockchain and Initial Coin Offerings. We will add guides to those soon!
Original post from Blockchain Library at https://blockchainlibrary.org/2017/12/understanding-cryptocurrencies-a-rookies-guide/
