What is cryptocurrency? | IN 60 SECONDS

What is cryptocurrency? | IN 60 SECONDS


If you own cryptocurrency, or coin, you control
some numbers on a ledger that is stored on computers all across the world. The ledger contains all of the transactions
that have ever occurred for that cryptocurrency. You control your coin through a wallet, which
is really just software used to engage in transactions. You control your wallet through a private key
– a code – that is required to transfer coin from your wallet. Your wallet also has a public key that people use to send coin to you. What keeps someone from changing the ledger
and stealing your coin? A technology called blockchain. Blockchain incorporates the existing ledger
into a code called a hash. If someone tries to steal coin, the hash changes
and all the computers that store the ledger cry foul. In fact, every time you engage in a transaction,
these computers, called miners, verify the transaction by solving a complex mathematical
puzzle that involves the hash. The computer that does this the fastest is
rewarded with coin, which keeps the system financially viable. What do you think is the future of cryptocurrencies? Let us know your comments. Also let us know what other topics you’d like our scholars to cover in 60 seconds, and be sure to like and subscribe for more research and videos from AEI.

12 Comments

  • irmuu sanaa

    February 5, 2018

    I think crypto currency will end with it being mostly being used in illegal transaction

    Reply
  • jujinz

    February 5, 2018

    Crypto is putting a major dent into the Rothschild dollar debt plantation and another big dent into slavery in general.

    Reply
  • Strix

    February 5, 2018

    What is crypto currency? Get rich fast scheme that doesnt work and has only empty promises and fake propaganda

    Reply
  • Vadevious

    February 5, 2018

    There's a free airdrop going on for the next month people, sign up while it's not too late 🙂 http://ternio.me/drop

    Reply
  • MasterStryfe

    February 5, 2018

    Still didnt get it.

    Reply
  • yummyjackalmeat

    February 5, 2018

    Um, what

    Reply
  • Luke Zuzga

    February 5, 2018

    Good video Mark Jamison. I knew very little about cryptocurrency and this was a good 1st lesson. Do you recommend getting into it?

    Reply
  • Brandon Dudley

    February 5, 2018

    what is cryptocurrency backed by? what gives it value?

    Reply
  • undertakersarmpit

    February 6, 2018

    wasn't there some hacking going on a few weeks ago? the prices suddenly dropped because of it, not too sure

    Reply
  • Bryson Bruce

    February 6, 2018

    First thing about ever making it is taking a risk, i wonder why most crypto people buy in and hold their coin out of fear of loosing it, its like buying a property and just hoping it appreciates when you can actually do more like rent it off while watching it appreciate, however i believe making investments that ring back daily profits is the way to go, invested 7btc back in July but now its worth over 12btc, so why hold when you can invest promptly,  for a successful and profitable CryptoCurrency Trading kindly email me however so you dont fall into the wrong hands, i'll tell you about it.. I am also offering Crypto Course for beginners and professionals alike.
    [email protected]

    Reply
  • Jay M

    May 5, 2018

    What is the difference between crypto and ponzi?

    Reply
  • lightube12

    July 25, 2018

    Cryptocurrency is like Facebook, it's value based on nothing other than an internet cyberspace. people are living in the digi world end time.

    Reply

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