What is cryptocurrency?
What is Cryptocurrency?
Cryptocurrencies are digital tokens that hold a specific value and use cryptography for security. Cryptography, or the act of disguising code for something else makes the system that powers cryptocurrencies nearly impossible to hack. These digital currencies are decentralized in nature, and aren't owned or controlled by any single entity. Instead, a community of users secures the network which allows for trustless transacting on a global scale. Cryptocurrencies are a lot cheaper and faster because of this.
Now, when you go to send money or convert fiat currencies, there's usually heavy fees and prolonged wait times. With cryptocurrencies you can send money anywhere almost instantly, with minimal fees. Cryptocurrencies work because of blockchain, the underlying technology which creates incentive for users to secure and maintain the network. This is done in various ways we will discuss in the coming pages.
The first blockchain, and cryptocurrency was Bitcoin. The idea was created in 2008 by an anonymous programmer named Satoshi Nakamoto. A few months later the blockchain had come to fruition from various developers who worked on the open-sourced code. Bitcoin started off as a sketchy internet currency that was mainly used on the dark web because of its' anonymity. That stigma has faded and what started off as a small-scale payment system has grown into a multi-billion dollar currency that's increasingly being accepted by businesses all over the world. Bitcoin has also kick-started an entire market of cryptocurrencies which has grown exponentially. Some like Ethereum, Ripple, and Litecoin are believed to have even more potential than their counterpart.
Initial Coin Offering’s (ICO’s) revolutionized how startups raise capital. Check out this info-graphic that simply covers the entire ecosystem.
After seeing the recent success of the Initial Coin Offering (ICO) sector of crypto, a thought popped into my head, “When will tech giants like Amazon, Google, and Facebook utilize a token economy?” Think about it, instead of these tech-behemoths going in and out of volatile currencies, why not make their own and peg their products and services in that native currency?
Blockchain is one of the hottest words of 2018. But who’s behind this technology? Check out this Infographic that lays our the career paths of the trailblazers leading the crypto engineering.
An overall review of Uphold, a cloud based financial services platform that enables anyone, anywhere in the world to move, convert, hold and transact in any form of money or commodity instantly and securely.
Op-Ed: “After graduating college many moons ago, one thing I learned in the “real” world as a trader/analyst is… financial markets do not function the same way as economic markets do. I found these markets driven by different motivating factors. Economic markets are measuring goods and services and the financial markets are measuring social mood.”
VeChain is a blockchain platform with extremely ambitious goals to develop a distributed ecosystem for businesses that will enable the movement of transparent and secure data, resulting in a more visible, trust-free, and collaborative system of business across numerous industries.
An in-depth look at how blockchain and initial coin offerings are radically transforming real-estate.
A transactional workflow, CPROP’s platform allows total transparency for all parties involved in a real estate transaction. As mentioned before, the traditional process of communication is headed by the agent. All parties rely on the agent to be available and accurate with information. Using the CPROP platform, parties are able to communicate with others involved in the transaction and update information in real time.
Check out this great beginner’s guide on Bitcoin and Blockchain technology!
Stellar Lumens is a peer-to-peer cryptocurrency and open source protocol for value exchange. Coins are “pre-mined” and the transfer of coins is based on an open source consensus algorithm, not managed by any central authority.