Cryptocurrencies are a type of ledger technology. Distributed ledger tech is, very simply, records and transactions stored on computer systems that are constantly verifying contents of the ledger, over and over again, simultaneously. If, at some point, the final copy of the ledger on one computer is different from another, it will split into two separate ledgers which is a process referred to as ‘forking’. Rewards are incentive mechanisms that come in forms of token payouts based on what that ledger manages. The process of generating and rewarding new cryptocurrency is referred to as ‘mining’. In around the year 2040, there will be about 21 million bitcoins, a quantity established by established protocols. The year 2040 is estimated because it takes roughly 10 minutes to process each blockchain with a node. What is a node, you ask? Well, it’s a high capacity computer that uses the bitcoin software and participates in the relaying of information at a high cost of storage space and energy so don’t plan on using your personal computer to manage much! Cryptocurrencies can be hosted on a cryptocurrency website with a virtual wallet – even interest can be accrued. With the world just recently embracing the concept of cryptocurrency, potential of how it can be used is slowly percolating and we’re finding that potential is endless.