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Browsing Concept: Digital Money

A concept of value exchange that does not require physical tokens (coins or paper cash) to be used in order to trade. Cryptocurrencies are a type of digital money.

Browsing 4 results under Digital Money

Opinion: Decentralized blockchains can only survive having a valuable token, like Bitcoin, attached to them [Feb 2018]
We've heard this time and again, especially from folks in the financial sector: "blockchain is here to stay, Bitcoin not so much". Is this really so? We disagree, and in th...

ELI5 Multisignature Systems
What we call a Bitcoin is simply an unspent, signed transaction on the blockchain. (Technically called a UTXO, for Unspent Transaction (TX) Output.) When you say you own such ...

7 Cryptocurrencies that rule the market
Cryptocurrencies seem to be the new big thing at the threshold of the Industrial revolution 4.0 and the digital transformation of the entire human world. Digital money has turn...

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 a...

Concepts In This Page

Bitcoin - Bitcoin is the world's first viable decentralized cryptocurrency. It was released on January 2009 by Satoshi Nakamoto.
Bitcoin Puzzle - A Bitcoin Puzzle is a cryptographic puzzle which carries Bitcoin as a reward. Those able to break the cryptography obtain access to the private key needed to unlock the Bitcoin.
Consensus Mechanism - A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it's the process which allows for everyone to agree on everyone else's money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
Digital Money - A concept of value exchange that does not require physical tokens (coins or paper cash) to be used in order to trade. Cryptocurrencies are a type of digital money.
Distributed Ledger - A distributed ledger is a decentralized financial database with data stored across multiple locations.
Hal Finney - Hal Finney was a cryptographer who pioneered the development of Bitcoin. Finney received the first ever Bitcoin transfer.
multisignature
Public Key Encryption - Public Key Encryption is an encryption method by which the encoding and decoding keys are different. AKA asymmetric encryption. Examples include RSA and elliptic curve cryptography (the latter used in Bitcoin and most cryptocurrencies).
Cryptocurrency Transactions - Cryptocurrency Transactions (TX's) are the logical object which tie an unspent output to a new input, forming the chain which allows us to control address balances. Transactions are grouped into blocks which, when verified by mining or staking, form the blockchain.
Elon Musk - Elon Musk is a serial entrepreneur who co-founded innovative companies such as Paypal, Tesla and SpaceX. His ambitious projects and impressive technical feats have catapulted him to the helm of business innovators.

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Browsing Concept: Digital Money

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