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Because it’s Friday: How Bitcoin works

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Cryptocurrencies have been in the news quite a bit lately. Bitcoin prices have been soaring recently after the community narrowly avoided the need for a fork, while $32M in rival currency Etherium was recently stolen, thanks to a coding error in wallet application Purity. But what is a crypto-currency, and what does a "wallet" or a "fork" mean in that context? The video below gives the best explanation I've seen for how cryptocurrencies work. It's 25 minutes long, but it's a complex and surprisingly subtle topic, made easy to understand by math explainer channel 3Blue1Brown.

That's all from the blog for this week. Have a great weekend, and we'll be back on Monday.


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