DECENTRALIZED DIGITAL MONEYWHAT ARE CRYPTO CURRENCIES?
Kind of like retailer or brand loyalty points. While also completely different.
You’ve probably heard of Bitcoin. It is a crypto currency. There are thousands more, some more popular (and more valuable) than others. Some popular ones you may have heard of are Ethereum, Tez or Litecoin.
Crypto currencies are a digital currency that live on the blockchain. By living on the blockchain, they are secure and all transactions are recorded on an immutable ledger.
Currencies, even in the real world, don’t hold inherent value. They are given value by the communities that use them. For example, even the US Dollar holds value because we believe it does (and for good reason).
Crypto currencies are essentially a currency that is on highly reliable technology that holds value if a community uses it in a way that gives it value.
Crypto currencies are growing VERY quickly, with usage numbers that astonish most people. Ethereum, one popular crypto currency, transacted more volume in 2020 than PayPal did!
Crypto currencies are highly secure, requiring you to digitally sign a transaction before it is executed.
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It’s all digital. Kind of like loyalty points at your favorite retailer.
Unlike a physical dollar bill, which can accidentally show up on the ground or someone else’s wallet, crypto currencies are secured by robust technology.
Any time anything happens with your crypto currency, you have immediate and guaranteed visibility to see how much of what went where.
Crypto currencies are being used in new ways for new things every every day. Developers are adding lending & borrowing, interest yield, and many other innovative concepts.
Worldwide talent is paying more attention to crypto currencies, including CFO of top banks and former government regulators.
HUMANS AND CODE WORKING TOGETHER
This art piece is called “Freedom #8”.
It’s one piece of a larger collection, “Freedom”.
The collection was created by an artist named Rhaegar.
This piece was not, however, drawn by hand. It was drawn by code.
Generative Art artists combine their mental inspiration with computer processing to create art.
Rhaegar wrote code that included core concepts (lines, colors, curves, etc). In that code, he added elements of randomness. That’s oversimplifying the process just to help with the basic idea.
When multiple pieces are created, we see individually unique pieces of beautiful art, whereas all of the individual pieces fit beautifully together.