Unicorn Academy
EN

Unicorn Academy › Cryptocurrencies

Cryptocurrencies · lesson 1 of 20

Beyond bitcoin

After bitcoin, thousands of other cryptocurrencies were created. Some copy its model with small variations, others use the blockchain to do things other than simple payments.

To tell them apart it is worth looking at three elements: what the network does, who really runs it and how new units are issued.

Many projects have disappeared over the years, and the value of a cryptocurrency can fall almost to zero. The fact that a coin is listed on an exchange says nothing about its soundness.

Questions

1. What do many cryptocurrencies created after bitcoin do?

They use the blockchain for things other than simple payments too

Some copy bitcoin, others have different purposes.

2. Which element is worth looking at to tell a cryptocurrency apart?

How new units are issued

What the network does and who really runs it also matter.

3. Does a listing on an exchange guarantee a project's soundness?

No, it says nothing about its soundness

Many listed projects later disappeared.

Next lesson: Ethereum and smart contracts

Continue from lesson 4

Cryptocurrencies: an online course in 20 short lessons with quizzes and a final certificate, on Unicorn Academy.

Download on the App StoreComing soonGet it on Google PlayComing soon

This page in other languages