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New explainers every weekday at 08:00 (sample)

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Ten explainers in reading order. Each one assumes only the ones before it.

1

What a blockchain is, in one page

Brief, 4 min read (sample)

A shared record kept by many computers, and why that matters.

2

Nodes, miners and validators: who does what

Explainer, 6 min read (sample)

The jobs inside a network, without the maths.

3

Proof of work and proof of stake, side by side

Explainer, 9 min read (sample)

How strangers agree on one record.

4

Why Bitcoin's supply is capped

Explainer, 8 min read (sample)

The 21 million rule and what it does not mean.

5

Seed phrases, explained without the jargon

Explainer, 7 min read (sample)

The words that rebuild a wallet, and how to keep them.

6

Custodial or self-custody: who holds the keys?

Deep dive, 12 min read (sample)

Convenience against control, set out side by side.

7

What a stablecoin is, and what keeps it steady

Explainer, 8 min read (sample)

Three designs and what has gone wrong before.

8

What you actually own when you own an NFT

Explainer, 8 min read (sample)

Tokens, files and licences.

9

Who owns land in a virtual world?

Deep dive, 15 min read (sample)

Platforms, tokens and the arguments in between.

10

The common scams, and how they start

Brief, 4 min read (sample)

Fake support staff, giveaways and promises of sure returns.

Before you read

The order goes from briefs to deep dives: the depth meter under each title shows it. Take one a day, or read them all on a quiet Sunday.

Our rule

We explain how crypto works and what the arguments are. We never tell you what to buy, sell or expect, and nobody pays us for coverage. Nothing on this site is financial advice.

Words to know

Blockchain

A shared record that many computers keep, where new entries are added in linked blocks.

Wallet

Software or a device that holds the keys to coins; the coins themselves stay on the chain.

Seed phrase

Twelve or twenty-four words that can rebuild a wallet. Never share them.

Gas

The fee paid to the network for a transaction or for running a smart contract.

Token

A unit created by a smart contract on an existing blockchain, not a chain of its own.

The weekly explainer: one topic, explained in plain words, every Sunday morning (sample).

Demo photos from Pexels by Rafael Minguet Delgado, Qing Luo, Bastian Riccardi, Brett Sayles, panumas nikhomkhai, SHVETS production, Kyle Miller, Han Zibar, Enzo Muñoz, cottonbro studio, Castorly Stock, Magda Ehlers, Tima Miroshnichenko, Jakub Zerdzicki. The theme download contains placeholder pictures, not these photos.