Bitcoin and Ethereum are popular topics today due to their significant historical growth and financial volatility. Elon Musk’s Electric car manufacturer Tesla recently invested 1.5 Billion Dollars into Bitcoin helping to build trust in the platform. So, what is Bitcoin? What are cryptocurrencies? How do they work? To help demystify bitcoin, we must take a step back and understand a technology called blockchain.

Blockchain is a data storage technology which has some unique attributes. Blockchain takes a bunch of data and stores it in a record format called a block. This block of data is then linked to the previous block of data forming a chain of data. This should be familiar concept to most computer programmers as what they call linked lists. Where blockchain becomes interesting is the involvement of a type of cryptography called hashes that make the previous records pretty much permanent.

Hashes are a one-way
Source…