Understanding the complexity behind cryptocurrency can be difficult, and the fluctuation behind some of the most popular cryptocurrencies out there can be straight-up scary at first. It’s very interesting to see how many people are using it so fast — what kind is this stuff all about? How much cash do they have left? Is anyone buying/selling anything lately?
These questions certainly help explain why Bitcoin has made such a splash over recent months.
*I’m going by username “Nephew.” I was recently watching The Road Warrior as an example for more mainstream audience with my wife in town (who loves films). She gets into crypto currency because she wants to buy games on Steam like Minecraft or Diablo 3 before that movie comes out 🙂
A cryptocurrency is a form of digital currency that does not depend on other forms of currencies to be formed, but instead, is created through a complex decentralized process known as mining. The transaction fees required to create one bitcoin are generated by the miners who solve equations connecting two addresses linked together at randomly chosen places in space using conventional computers or software programs.
This blockchain network allows for fast and efficient verification of transactions between participants without reliance upon centralized parties such Bitcoin exchanges or financial services providers like Visa and Mastercard.
I am currently working with our partners throughout my career from academia – MIT’s Kavli Institute for Innovation (CIMSEC) where I served both as co-founder and CEO; Yale University School Of Engineering which provides me with experience implementing scientific discovery based business applications via its Enterprise Services team; George Washington University/