Know Your Tech

Hi there. Thanks for stopping by. For the last years, we’ve seen ups and downs in emerging tech (and interest to it). We’ve also witnessed hype, misinformation, and just too much junk. Therefore, we decided to dedicate this page for a quick dive-in into the topics that ignite you. Let’s start from the basics. 

WTF is Bitcoin

Bitcoin is the most famous cryptocurrency and the first digital currency, which is still used for exchange without intermediaries. Satoshi Nakamoto created Bitcoin. Noone knows who hides behind that pseudonym.

WTF is Blockchain

Blockchain is a modern computer technology on which Bitcoin works. This is a decentralized database, but whenever someone makes changes to this database, participants must agree on this change to avoid manipulation or attack.

WTF is Cryptocurrency

Cryptocurrency is “everything you don’t understand about money, combined with everything you don’t understand about computers” © John Oliver. Cryptocurrency is virtual/digital money that is not controlled by anyone and works according to the rules laid down in their program from the very beginning.

WTF is Mining

Mining is the support of the work of cryptocurrency for a reward in the form of tokens. Most cryptocurrencies are supported by complex computer calculations. Since these calculations take time and consume electricity, the "volunteers" are rewarded with coins for their work, because in the process they create ("mine") new coins.

WTF is Token

Not all cryptocurrencies are currencies. There are virtual tokens that can be used as a fee for the service or a (virtual) item. There are utility tokens and security tokens.

WTF is Altcoin

An altcoin is every cryptocurrency, which is not Bitcoin. Literally "alternative coin".

WTF is Fork

"To fork" means to create an alternative version (transaction history) of the existing blockchain, leaving two separate blockchains at the same time in different parts of the network. So you can create altcoin in a fast and cheap way. 

WTF is Smart Contract

A smart contract is a program that is automatically executed on blockchain. It is not “smarter” as the programmers decided it to be, and the founder of smart contracts Vitalik Buterin thinks that it would be better to call them “permanent scripts”. 

Blockchain without Bullshit: a How-to Guide

WTFBit Media started with a focus on cryptocurrency and blockchain. Read the basics about these at CoinDesk’s Blockchain 101. You will then realize that you are curious to learn more, so the ultimate list of resources from a Bitcoin veteran Jameson Lopp will become handy.

Later, it will become apparent that it is about disruptive tech and a new mindset. To cut the clutter, watch videos by Andreas Antonopoulos and plunge into the real value of decentralization and learn about the new role of money.

IoT: The Internet of Everything

We are going to lead you towards the Industrial Revolution 3.0. Highlights of the industry in connection to blockchain will be added here shortly.

An Intelligent Guide to Artificial Intelligence

How statistics allowed machine learning and a claim for creating artificial intelligence. Will be available soon.

Biotech: Live Long the Human

A bit later you will learn how biotech changes us daily and what to keep an eye on.