I really like this article--> Welcome to the crypto world BTCBTC
First off, theres this thing called cryptocurrencies, or just crypto. What is that in the first place? A cryptocurrency is a digital asset that uses cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Still confusing? How about internet money?
Thats all well and fine, but what on earth is cryptography? See, its not that simple after all. 😉 According to Wikipedia, cryptography means constructing and analyzing protocols that prevent third parties or the public from reading private messages. In essence, to prevent people from sticking their nose into your business.
By now, were sure everyone reading these lines has heard of Bitcoin. But there are so many other cryptocurrencies out there. And they even have a common name Altcoins, or Alts for short. Alts were conceived as an alternative to Bitcoin and therefore encompass all cryptocurrencies that are not Bitcoin.
Moving on weve written before that Bitcoin and Blockchain are two different things. But what is blockchain anyway? This ones a tough cookie, so well just borrow from the internet: a blockchain is a growing list of records, called blocks, which are linked using cryptography. Its basically a network of hundreds, sometimes even thousands of computers running software code that enables Bitcoin and Alts to exist and travel from one address to another.
Address? Like a postal address? Well, not quite. Similar to an email address, a blockchain address is an alphanumeric string of characters that represent a destination where crypto can be sent to and from. For example, a Bitcoin address looks like this: 3KbWWjumBGLBUWYCeidydxe1uET9QyWoEg. Harder to remember than your phone number, yes, so thank the universe for copy/paste.
An address usually involves the use of a public and private keys. And no, were not trying to confuse you, these things actually do exist, we swear!