Let’s dive right into the world of Bitcoin! But first, let’s define these three terms: Fiat Money, Digital Currency, and Cryptocurrency.

Ready to take it further? Let’s begin by breaking the term down to its root words: crypto and currency.

Bitcoin is a peer-to-peer, decentralized cryptocurrency that enables users to send value from one another without the need for intermediaries.

Peer-to-peer refers to a network where different computers act as both clients and servers, taking out the need for a central party to communicate.

Being decentralized refers to an entity's lack of need for a central authority or organization to operate.

Cryptography refers to the practice of techniques to secure communication in the presence of adversaries or bad actors.

This process happens repeatedly every day, keeping the Bitcoin network alive and secure. 

The act of validating transactions is referred to as mining.

Be able to transfer value between each other without the need for third-party interference — no more middlemen, hefty fees, long wait times, or logistical problems.

As of 2021, Bitcoin is responsible for transacting billions of dollars and connecting all kinds of people worldwide.

A hash function is a special function where any length of data inputted will be computed, then the output would have a fixed length.

Hashing is Deterministic, Unpredictable, Collision-resistant, Efficient, Verifiable, Irreversible, and Consistent.

In a Proof-of-Work system, the Bitcoin miners must expend work and energy to solve mathematical problems to ultimately prevent bad network actors.

How does blockchain with a Proof-of-Work system protect Bitcoin from bad actors? Again, this is all thanks to hashing.

Honest work, secure transactions, decentralization, and lack of bias are just some of the benefits of PoW system.

A 51% attack is when malicious miners control more than 50% of the Bitcoin mining network.

Let’s talk about digital signatures. Think of it as signing a document using Microsoft Word, except more advanced and secure.

The concept of digital signatures in the Bitcoin network is possible as a result of asymmetric cryptography.

Get a real world example of how digital signatures work in conducting transactions.

Quick exercise: Try to consider any other asset or commodity that can be viewed as a form of currency with a fixed supply already set in stone.

Halving is a process of dividing the block reward received by miners into two (2)

Theoretically, bitcoin's halving process incentivizes miners to continue doing their job, assuming the price of bitcoin goes up.

Bitcoin’s mining difficulty adjustment functions regardless of the bitcoin price going up or down.

The inflation rate and other rules in the Bitcoin protocol are all enforced and encoded.

The properties of money are characterized as the following: Durability, Portability, Divisibility, Uniformity, Stability, Scarcity, and Acceptability.

One way to stay updated with bitcoin's progress as a form of money is to monitor it through on-chain metrics.

El Salvador's government made history by being the first country in the world to officially adopt Bitcoin as legal tender.

The Bitcoin Lightning Network is a layer two solution initially ideated by Joseph Poon and Thaddeus Dryja back in 2015.

Double-spending refers to the ability to spend the same currency twice. 

The Byzantine Generals Problem is basically the question: "How can a distributed network of different parties agree on a single truth?" 

Bitcoin is an excellent way to prevent increasing money supply.

Hundreds of millions of people around the world lack access to banking and financial services.

Unlike banks today, the Bitcoin network is completely transparent and open to all.

Just like you, a lot of famous personalities have entered the Bitcoin space as well. Let's get to know those people, shall we?

Apart from these famous names, the cryptocurrency space has also made its appearance in pop culture media.

Here are some general reminders about properly investing in cryptocurrencies.

Here's a step-by-step process on how to buy cryptocurrencies the easiest way possible.

You're almost ready to jump into the world of cryptocurrencies. But before you do, be wary of cryptocurrency scammers lurking around.