Cryptocurrencies

Cryptocurrencies are a digital form of payment, introduced around 2008, based on blockchain technology, where transactions kept in a ledger accesible to everyone, approved by miners, who solve a calculation, after which the transactions are added to a block.

Every participant is a node in a network. The blockchain system can also be used for decentralised applications like voting systems, social media that prevent censorship and identity control. Traders keep their cryptocurrencies in special crypto wallets (like Ledger Nano, protected against hackers).

The biggest crypto markets are US, China and India.

Main coins

- Basic Attention Token (BAT), used in Brave browser, created by Brendan Eich (Mozilla Firefox)

- Beam: privacy-focused

- Binance Coin

- Bitcoin: started in 2009 by anonymous Satoshi Nakamato, Hal Finney. It works on blockchain technology. Special, expensive devices and a lot of electricity is required to mine. Bitcoin is promoted by Bitcoin Jesus, Elon Musk, Anarchopulco as a decentralised alternative for central banks like the Federal Reserve. It increased in 2013 and plummeted in 2016, increased in 2017 and plummeted in 2018.

- Diem (Facebook)

- Dogecoin: founded in 2013 by Billy Markus helped by Jackson Palmer, promoted by Elon Musk.

- Enjin: game related, development of avatars.

- Ethereum: founded by Russian Vitalik Buterin, used for smart contracts (transactions, dependant on conditions). Korean company Samsung opened VR platform Decentraland, based on Ethereum.

- Litecoin, founded by Charlie Lee (ex-Google), based on code of Bitcoin but faster. collaboration with Unicef.

- Luckycoin

- Monero: privacy-focused, used on the Dark Web

- Neo (Chinese blockchain project with 2nd GAS currency)

- Nexo: for lending

- Ripple (XRP), Christian Larsen, developed for digital transaction of money, bank partners American Express, Royal Bank of Canada, Rabobank. company aimed at profit, promoted by Bill Clinton, Ashton Kutcher.

- XPR (Matthew Mellon as investor)

Reddcoin, Cardano (Japan), DigiByte, Chiliz (sport clubs), Holochain, Wink (gaming coin on Tron blockchain), Cybermiles, Telcoin, Vertcoin, Steem (social media platform Steem, linked to DTube, cryptography John Dee). Cryptocurrencies are exchanged at Binance (own BinanceCoin), IDeal.

Cryptocurrency (cc=33) is a reference to cryptic masonry.


the Financial System

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