In this article, I describe some considerations to help you decide whether investing in cryptoassets is right for you. There are many risks, but the markets are exciting, and people have made and lost fortunes in these markets. CRYPTOASSETS PRICING How do you put a value on cryptocurrencies or cryptoassets? For tokens that are a
Smart contracts are a groundbreaking innovation in blockchain technology that enable the execution of self-executing contracts with the terms of the agreement written directly into code. Bitcoin’s scripting language has paved the way for several applications of smart contracts, such as the implementation of escrowed payment transactions. However, the scripting language’s limitations, which include a
Dogecoin, a cryptocurrency based on blockchain technology, has become one of the most vibrant altcoins due to its unique community values. Although it was created as a fork of Litecoin, its success can be attributed to its emphasis on generosity, tipping, and not taking cryptocurrency too seriously. Named after the popular “Doge” meme featuring a
This article is about the Bitcoin mechanism. Whereas the discussion in the first two chapters was relatively generalized, we now delve into the details. We’ll look at real data structures, real scripts, and learn the details and language of Bitcoin in a precise way to set up the discussion in the rest of this book.
Bitcoin Decentralization: We looked at the crypto basics that underlie Bitcoin and ended with the description of a simple currency called Scroogecoin. Scroogecoin achieves a lot of what we want in a ledger-based cryptocurrency, but it has one glaring problem—it relies on a centralized authority (Scrooge). We ended with the question of how to decentralize,
Bitcoin’s price: like gold or oil or any other asset, bitcoins have a value that can be priced in USD or any other currency. This means there are people who are willing to exchange BTC with USD, usually using cryptocurrency exchanges, marketplaces which attract buyers and sellers. On exchanges you can see indications of supply
Bitcoin’s History is colourful, more colourful than some received wisdom might have it. Some Bitcoin proponents say ‘Bitcoin (the protocol) has never been hacked,’ but they are wrong. Bitcoin has been hacked. Here is a selection of events from historyofBitcoin.org120 and the Bitcoin Wiki121 with my personal comments about these events. The Genesis of Bitcoin:
Bitcoin in Practice: Despite the ideal concept of Bitcoin decentralization, the reality is that it may not be as decentralized as some proponents may claim. In practice, there are various metrics that indicate Bitcoin’s performance falls short of expectations. While the network operates on a peer-to-peer basis and does not require a central authority to
What is Bitcoin? It’s a digital asset, often referred to as ‘coins,’ with ownership recorded on a decentralized electronic ledger known as Bitcoin’s blockchain. This ledger is continually updated on approximately 10,000 independently operated computers worldwide, which communicate and synchronize. Transactions, representing the transfer of ownership of these coins, are generated and validated according to
History of Money has been a part of human civilization for thousands of years, evolving from barter systems to the modern digital currencies of today. The concept of money has changed over time, but its basic function remains the same: a medium of exchange for goods and services. What Is Money? In ancient times, people