A CryptoCurrency Primer
If you’re already well-versed in cryptocurrency, you can skip down to the next section. But because there is still so much confusion and misinformation, let’s define a few terms for the uninitiated.
Cryptocurrency, or just Crypto, aims to avoid an institutional or governmental “middleman” by “decentralizing” money – giving the power back to the people. This decentralization can make the transfer of “value” between parties easier, reduce the costs of said transfers and also reduce potential corruption by the middlemen.
Blockchain is the technology that allows Crypto to do all this. To put it simply, blockchain is the database that proves the value of Crypto by maintaining a record of transactions in the cloud in a decentralized manner, accessible by all and alterable by none.