Posts

Showing posts from December, 2024

Cryptocurrency

Image
Introduction  C ryptocurrency is a form of Digital or Virtual Currency that relies on cryptography for security. It is decentralized meaning it is not issued or controlled by a central authority by a government or bank. Transactions are recorded on a secure and transparent blockchain system, ensuring trust and preventing tempering. The concept of cryptocurrency has its roots in the evolution of digital currencies and cryptographic techniques. The idea matured over decades, but it became globally recognized with the introduction of Bitcoin in 2009. Ideas and technologies developed during this period laid the foundation for cryptocurrency.  History of Crypto: DAVID CHAUM In 1983, proposed the idea of Digital Cash using cryptography with his invention of ECASH, which aimed to provide secure and anonymous digital transactions. WEI DEI  Also in 1998, proposed B-MONEY, an early concept for an anonymous, decentralized digital currency system that introduced ideas later implement...