User Tools

Site Tools


fall17:cryptocurrency

Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revision Previous revision
fall17:cryptocurrency [2017/12/06 10:17]
jdillingham [Pros]
fall17:cryptocurrency [2017/12/13 23:55] (current)
sreynolds02
Line 4: Line 4:
 [[fall17:​cryptocurrency:​What is Cryptocurrency?​|What is Cryptocurrency?​]] [[fall17:​cryptocurrency:​What is Cryptocurrency?​|What is Cryptocurrency?​]]
 ===== How It Works ===== ===== How It Works =====
-[[fall17:​cryptocurrency:​howcryptocurrencyworks|How do cryptocurrencies work?]]+[[fall17:​cryptocurrency:​howcryptocurrencyworks|How do cryptocurrencies work?​]] ​In essence, cryptocurrencies seek to create a currency that does not require a central system, such as a bank. In order to keep things fair and orderly, the records of transactions are encrypted so that they cannot be modified later. The encryption process takes resources, usually processing power - as such, successfully encrypting such records (referred to as '​blocks'​) creates currency, owned by the person who's device was successful. This encryption process is referred to as "​mining,"​ since it takes a great many resources to potentially earn the resource.
 ===== Advantages of Cryptocurrency ===== ===== Advantages of Cryptocurrency =====
  
fall17/cryptocurrency.txt ยท Last modified: 2017/12/13 23:55 by sreynolds02