See Also
ELI5 : What is Proof of Trust (PoT)?
Proof of Trust is a consensus mechanism where users “stake” the trust they’ve earned in a network in order to verify cryptocurrency transactions. In a proof of trust system, users will earn a virtual value called “trust” every time they acquire a role in the ecosystem. A highly trusted node will be able to verify […]
Why are there so many cryptocurrencies?
Why so many cryptocurrencies? Are all of them as complex as Bitcoin? Currently, the Crypto.BI cryptocurrency list has over 1993 entries. What’s behind this crypto diversity? Perhaps, the best way to answer this question is through a practical example. Say you are a member of the Bitcoin development team and suddenly you convince yourself that […]
Brazilian tax authority hardens rules for Bitcoin exchanges: monthly statements to become mandatory
The Brazilian equivalent of the IRS, Receita Federal (RFB), wants to tighten the rules for cryptocurrency exchanges. The new administrative guidelines were released to the public when the terms of a public consultation were published earlier today. Anti-Money Laundering The consultation was opened to request comments from experts about how to deal with tax dodging […]
What is the difference between digital money and cryptocurrencies?
Cryptocurrencies are a form of digital money, but what we normally understand as digital money is represented in fiat currency. For instance, prepaid cards, virtual credit cards and other forms of digital money are simply fiat money deposited into some account under a traditional banking institution. Parents, for instance, can load up their children’s cards […]