Core Concepts
Cryptocurrencies are becoming mainstream, with advocates praising their transparency and anonymity while critics raise concerns about potential harm. The core message is the explanation of how cryptocurrencies work through blockchain technology.
Abstract
Cryptocurrencies are gaining popularity, with El Salvador adopting bitcoin as legal tender and New York City aiming to become a cryptocurrency hub. Despite only 16% of Americans investing in cryptocurrencies, almost 90% are aware of them. Advocates highlight the transparency and anonymity of decentralized finance, while critics worry about scams, money laundering, and environmental impact. The blockchain serves as a public ledger recording transactions in detail. Different cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum operate on various algorithms and mechanisms. Proof-of-work and proof-of-stake are common methods for validating transactions in cryptocurrency networks.
Stats
Only 16 percent of Americans invest in cryptocurrencies.
Almost 90 percent of Americans are aware of cryptocurrencies.
Bitcoin burns through more electricity than certain countries.
There will be a total of 21 million bitcoins in the system.
Quotes
"The blockchain provides you with a different trust model." - Ari Juels
"In Bitcoin, your participation in the system is proportional to the amount of computation you do." - Ari Juels