Image for post
Image for post

The In a Hash educational series is designed to deconstruct the under workings of cryptocurrency and public blockchain technology by offering introductory “bite sized” system design definitions and explanations.

In order to truly understand public blockchain technology, and cryptocurrencies in general, it is important to have a basic understanding of the underlying concepts and functions upon which these systems are built. …


Image for post
Image for post

This short piece was prompted by a recent discussion I had on why artificially constructed international auxiliary languages, such as Esperanto, have not reached the global adoption goals of their creators during the 20th century. What was truly interesting was that throughout the conversation it became increasingly apparent that Bitcoin is faced with similar hindrances to global adoption. If the digital currency cannot find suitable solutions to these obstacles it may suffer over a century of marginal utilization like Esperanto.

Outlined here are key definitions and explanations pertaining to the comparison between Bitcoin’s and Esperanto’s circumstances.

Esperanto

In the late 19th century a Polish-Jewish ophthalmologist by the name of Ludwik Lejzer Zamenhof created the first reason-based constructed international auxiliary language (IAL) known as Esperanto. He wrote that the need for such an IAL was made obvious by the surroundings he endured during his upbringing in Bialystok (now part of Poland but then part of the Russian…


Image for post
Image for post

As the co-founder of a small cryptocurrency mining operation I am often asked by people from outside the industry questions regarding the nature of blockchain, mining, and how cryptocurrency really works! While my verbal answers are usually fairly brief, I think these questions warrant a more encompassing explanation that can be understood by those, like me, who do not have a background in computer science. Outlined below are explanations of what I believe to be the key concepts behind how cryptocurrency and public blockchain technology work.

Cryptographic Hash Functions

Cryptographic hash functions can be somewhat tricky to understand for laymen but they are utilized in almost all aspects of cryptocurrency and public blockchain networks. As a fundamental building block of the technology, and a common industry term, it is important to have a basic understanding of what they do. …

About

Tom Doll

Driving meaningful end-user adoption of public blockchain technology through education & discussion!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store