(Image Source: https://flic.kr/p/e9LG7B) (This post is based in part on a paper earlier published by Rostrum Law Review) This post first explains the Bitcoin Network itself and some of its vulnerabilities, and then the cyptography used by Bitcoins that gives it the title of Cryptocurrency.
Category: 101s
An Explanation of Bitcoins, Part I (The Philosophy)
(Image Source: https://flic.kr/p/e9LG7B) (This post is based in part on a paper published by Rostrum Law Review) Most of the currencies in the world right now, and all the reserve currencies, are fiat currencies, declared to be currencies by a legal tender, and unsupported by any physical commodity, only the rules of supply and demand (Incidentally, the term ‘fiat’…