Category: Crypto 101
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Why was Crypto Created
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in Crypto 101Although Nakamoto remains a mysterious figure, his goal for creating cryptocurrency,1 in itself, was never a mystery. Simply put, he created it to take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system. Bitcoin remains open-source, meaning that no one has the power to own or…
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OnRamp Crypto
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in Crypto 101A fiat onramp is a service or platform that enables individuals to convert traditional fiat currency (like USD, EUR, etc.) into cryptocurrencies. These onramps act as gateways, allowing users to enter the cryptocurrency ecosystem by facilitating the purchase of digital assets using standard, government-issued currencies. Users typically register on these platforms, deposit fiat currency, and…
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Alternative Way to Pay
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in Crypto 101Make the move to Decentralized finance (DeFi) and crypto payments. Pay who you want, for what you want AltWayPay is your source for Crypto OnRamp and Payment information. Enjoy our free articles, or start a membership for more detailed articles and guidance. The choice is yours.
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Shamir Backup
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in Crypto 101A Shamir Backup, specifically referring to Shamir’s Secret Sharing (SSS) scheme, is a cryptographic method for splitting a secret into multiple parts, known as shares. This scheme was developed by Adi Shamir, one of the co-inventors of the RSA algorithm. Purpose of Shamir Backup: The primary purpose of Shamir’s Secret Sharing is to enhance the…
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The Genesis of Cryptocurrency: Unraveling the Motivations Behind its Creation
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in Crypto 101Introduction: The advent of cryptocurrency has marked a revolutionary shift in the realm of finance and technology. Bitcoin, the first and most well-known cryptocurrency, emerged in 2009, introducing a decentralized and peer-to-peer form of digital currency. But why was cryptocurrency created in the first place? What problems was it designed to solve, and what motivations…