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Anycoin Academy. Learn everything about Crypto and Blockchain

Mining a cryptocurrency means getting new coins by providing computing power to a Proof-of-Work blockchain network, solving cryptographic puzzles and validating transactions.

Today's lesson is about cryptocurrency mining. Of course you know what Bitcoin miners do, it has been talked about many times in various media. But how does it actually work and what variants are there?

beginner

What is mining

What is mining?

Stablecoins are digital currencies that are supposed to have a stable value. These coins are useful when trading, but also to protect your money in a bear market.

Have you ever heard of a stablecoin? Maybe not, but the name itself gives a lot away. We will go into a little more detail about this type of coin in this lesson, so you know exactly what it is and what you can do with it.

What are stablecoins

What are stablecoins?

Fiat money is money authorized by the government to serve as legal tender. It derives its value from this authorization and not from its intrinsic value, like gold or silver coins.

The term fiat money is a fairly well-known term. Yet not everyone knows exactly what this term means and how people have dealt with money throughout history. Hence, we wrote this lesson.

What is fiatmoney

What is fiat money?

There are all kinds of crypto coins. All these coins have a special function, comparable to functions of companies in the real world.

With the advent of Bitcoin, the way was open for more types of crypto coins, called altcoins. Since then, hundreds of types have been added. It would go too far to cover them all here, so in this lesson we have chosen to single out the most important ones.

Types of crypto

Types of cryptocurrencies

Bitcoin halving is an event that occurs after 210,000 blocks have been mined. The fee for mining a block is then halved. This happens about once every four years.

You may have heard about halving for Bitcoin. However, there are halvings of many coins. Today we are going to explain to you what these actually are.

What is the Bitcoin halving

What is the Bitcoin halving?

An airdrop is a marketing strategy where you hand out free coins to raise awareness of your coin or spread it to more addresses, so that trading gets underway. This usually involves all kinds of channels, such as Twitter, Telegram or other social media, to spread the news.

When one thinks of an airdrop, one quickly thinks of throwing something out of a plane. Indeed, it does have something of that. Today we are going to explain to you what exactly is meant by it.

What is an airdrop

What is an airdrop?

Cryptocurrency and taxes belong together like a mosquito and a bite. If you have more than an every year changing sum of money sitting in crypto you have to pay taxes on it.

Tax is not the most fun part about cryptocurrency, but you have to be mindful of it if you don't want any nasty surprises. 

If you don't file a tax return when you should have, penalties can amount to as much as 300% of what you should have paid. That's why it's good to know how the IRS handles cryptocurrency.
The IRS website on the subject is quite brief. 

We will provide a brief summary so you don't have to look at the IRS website unless strictly necessary.

Cryptocurrency and taxes

Cryptocurrency and tax

HODL is an abbreviation for Hold On for Dear Life. It was coined in 2013 in response to a post by GameKyuubi on the Bitcointalk forum.

The term HODL has a rather peculiar sound. When you learn the meaning of this acronym (pronounceable abbreviation) you may be somewhat surprised. After reading this lesson you will know exactly where it comes from and what the joke of it is.

What does HODL mean

What does HODL mean?

With the terminology all time high you can probably imagine something. In the cryptocurrency world, it has a specific meaning, which you also know after reading this short lesson.

What does ATH mean

What does All-Time High (ATH) mean?

A blockchain is a chain of blocks all tied together that provides information to the individual blocks in order of creation so that all participants know their state.

Lately, you can't avoid the term blockchain. It is in the news more often, due to the fact that major coins like Bitcoin and Ethereum use it. So what exactly is blockchain and why has it become so popular? You'll know exactly that after this lesson.

intermediate

What is a blockchain

What is a blockchain?

Inflation means inflating. As the money supply increases, prices rise, the value of money falls and purchasing power declines.

Actually, everyone is familiar with the word inflation. It makes you think of rising prices. Yet it is a lot trickier than it seems at first glance. That is why we have written this lesson, so that after reading it, you will be quite familiar with the many facets of inflation.

What is inflation

What is inflation?

The Byzantine generals problem is a solution to erroneous or malicious nodes that pass wrong information. This allows the blockchain to continue running correctly despite the errors.

Today, let's take a brief trip to antiquity. The Byzantine Empire was part of the Roman Empire, after it was split into two parts. Byzantium (later Constantinople and Istanbul) was the capital.

Byzantine generals problem

What is the Byzantine generals problem?

Sidechains are built when the main chain needs support or relief. This may be due to scalability, cost or other reasons.

Today we are going to talk about sidechains. I'm sure it has come up before, but what exactly is it?

What are sidechains

What are sidechains?

In today's lesson we are going to talk about something you will have heard about before. You may not know exactly what it means, but after this lesson you will.

What is a 51% attack

What is a 51% attack?

A public key is used as an address to receive coins. A private key is used to issue coins. That is why your private key is so important and must be kept secret.

It is important to know what these two mean and what that means for an investor in cryptocurrency. This lesson is designed to inform you exactly what these terms mean so that you remain vigilant in your crypto adventures.

Public key and private key

What is a public key and what is a private key?

When you see these terms like this for the first time you will scratch your head behind the ears. A consensus algorithm? What the hell is that? After following this lesson, you will not only know what it is, but also what forms it takes.

What is a consensus algorithm

What is a consensus algorithm?

Proof of stake means pinning coins for a reward. Proof of work means getting a reward for solving a cryptographic puzzle.

Everyone has heard about proof of stake and proof of work. What exactly it means, that's what we're going to tell you about today in this lesson. Sit back and let us take you into the world of mining and coins staking.

Proof of stake vs proof of work

Proof of stake versus Proof of work

Ethereum Virtual Machine is a single entity maintained by all computers running an Ethereum client. This machine keeps track of everything that happens on the Ethereum blockchain.

Everyone in the crypto world knows Ethereum. Most people have also heard of Ethereum Virtual Machine (EVM), but what exactly is it? Today you're in luck, because that's exactly what we're going to tell you about.

What is Ethereum Virtual Machine

What is Ethereum Virtual Machine?

Hashing is a technique for converting data into a code. This code is called a hash and is usually used in securing important data or mining.

In this lesson, we are going to talk about hashing. It's certainly not easy, but we won't let that deter us. Here we go.

advanced

What is hashing

What is hashing?

Zk roll ups stands for zero knowledge bundled transactions. With this technology, layer1 networks become cheaper and more scalable because transactions are bundled together and processed as 1 transaction on the main chain.

Today we are going to talk about zk rollups. It's not one of the easiest topics, so brace yourself!

What are zk rollups

What are zk rollups?

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Anycoin Direct is a European cryptocurrency broker that allows you to buy and sell Bitcoin and other cryptocurrencies. Our platform is known for its user-friendly interface, secure transactions, and competitive prices. We have been active in the cryptocurrency market since 2013 and have helped over 500.000 customers with their transactions. We are a registered company in The Netherlands and have a dedicated team that is ready to assist you with your cryptocurrency transactions.