Understand Blockchain and cryptocurrency – Charles Brett
It can not be denied, Bitcoin has really gained momentum in recent weeks. With a market price between $ 10 and $ 20,000, everyone now seems to be interested in cryptocurrency and the Blockchain. Yet few really understand how they work, and try to get on the bandwagon without necessarily knowing the destination.
Above all, the key is to understand what we are dealing with, and why cryptocurrency and blockchain are intimately linked.
What is cryptocurrency? To summarize, it’s a virtual currency. What makes it a completely different and original currency is that it is not managed centrally; in lambda terms, it is the user who has complete control of the cryptocurrency in his possession (peer-to-peer).
This process is done through the implementation of the Blockchain technology: the latter is a distributed and decentralized data storage and transmission technology at the base. The most frequently used analogy is that of an account book accessible to all, indissoluble and unpublished once the data is integrated into the system. Like cryptocurrency, the Blockchain also relies on P2P to work in a decentralized way.
The advantage of such technology for cryptocurrency was obvious for its developer (or group of developers), with the pseudonym of Satoshi Nakamoto. By using distributed Blockchain technology, this allowed for an open, trust-based system, difficult to decrypt due to the default built-in cryptography in the
Blockchain system design
You may be wondering: why are crypto-currencies so widespread today? Without intrinsic value, and without any convenience on which they can rest, economically speaking it makes no sense that this market reaches such an astronomical price.
There are two arguments that often stand out in the argument for cryptocurrencies. On the one hand, anonymity via cryptography provided by Blockchain technology: since there are very few regulations in this industry, we can end up with astronomical sums without necessarily having to pay for them. taxes, since there is no centralized body to monitor what is happening there.
The second reason is more sociological: since there are people who mine and exchange cryptocurrencies, the logic is that the latter must have value. The consequence is that other people join the rush, and so on until it becomes a global phenomenon. It could be called a crowd movement, or a digital gold rush of the 21st century.
But these two reasons do not necessarily answer the question of why Bitcoin and all these other crypto-currencies have value. To have a clear answer, we must return to the basics of the economy and what the latter teaches us: any value applied to a commodity or a currency is subjective. That is, if we, as people, see value there, the convenience in question is valuable.
According to coinmarketcap.com, which tracks real-time cryptocurrency, the sector currently has a value of $ 641 billion. To specify that this figure and the following ones all date from January 2, 2018, so may have evolved since.
Bitcoin (BTC) is in first place, far ahead of the others, with a price of $ 13890 per BTC (the latter has experienced a meteoric rise in recent weeks, including a peak at almost $ 20,000 before go back down to a more “reasonable” price). In all, with all BTCs on the market today, cryptocurrency covers more than a third of the total market with a capital of $ 233 billion.
Bitcoin Cash (BCH), the result of a split with Bitcoin this summer, is currently in second place with a value of $ 2,500 per BCH. Given its novelty in the market, the BCH has a capital of 42 billion, putting it in fourth place behind Ripple (XRP), at 91 billion, and Ethereum (ETH), whose capital is 84 billion.
In short, you will understand: the cryptocurrency is currently booming.
The main actors to follow
We’ve already told you about Bitcoin: almost everyone knows about its existence now, even if few understand it. But it’s not the only cryptocurrency on the market, as you’ll understand in the figures above.
In addition to Ethereum, Bitcoin Cash, and Ripple, there are also Litecoin and Dash, but also crypto-currencies like Dogecoin (the name from which comes from the well-known Internet of the dog breed Shibe Inu), and several dozens more more or less known.
White papers to consult
Below you will find a selection of various white papers that will explain the basics of Bitcoin and the technology that makes it a success, as well as the consequences and results that Cryptocurrencies and Blockchain can have on how our economy works. national and international.
This white paper, a complete translation of Andreas M. Antonopoulos’ white paper, reviews the techniques for mastering cryptocurrency techniques.
Blockchain: be curious! Understand and experiment.
This white paper explains everything you need about the Blockchain.
The impacts of distributed networks and Blockchain technology in market activities.
This white paper examines the impacts of Blockchain technology in two financial businesses: asset management and securities depository / servicing.
Autonomous contracts and new-generation decentralized applications platform.
This white paper, a complete translation of Ethereum’s white paper, explains everything you need to know about Bitcoin and all related terms.
Blockchain — the revolution of the sharing economy.
With more than 410 start-ups positioned on the Blockchain in July 2016, it became in 2017, after more or less a year of “gestation” and experimentation, a technological and economic reality exceeding the simple phenomenon of fashion.
Nexxus — White Paper on Bitcoin
This white paper explains both the operation of bitcoins, while presenting its solution to facilitate the management of these.
Understand the Blockchain.
Explaining Blockchain technology in detail and giving case studies of its use is the purpose of this white paper.
The blockchain, a new lever of Participatory Financing.
This white paper will introduce you to the blockchain and the opportunities around it for crowdfunding.