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Alethone ethereum coins
How much do you understand about Bitcoin or cryptocurrencies? Do you know what Blockchain is, or what an ICO means? Here is a handy reference guide for all of you with some very useful links for more information. Bitcoin Bitcoins are purely digital virtual coins exchanged directly between two parties online with no intermediary involved. The appeal of Bitcoin is that it is not controlled or backed by any bank or central government authority — in that sense, you could think of it as a massive disruption in the world of fiat money as we know it.
To date, this is probably still the most simple and accurate description for a Bitcoin. In this sense, Bitcoin, like other cryptocurrencies, is a deflationary currency, and as such is likely to continue growing in value as supply is limited but demand could grow exponentially over time.
Best descriptions of Bitcoin that I have come across: The underlying principle being that it is a form of digital money that is designed to be secure and, in many cases, anonymous. Ethereum is probably the second most popular and well-known currency token used in the ethereum blockchain.
Others such as Ripple and Litecoin too have gained popularity in the recent past and have seen some level of mass-scale adoption along with some banks early-adopting them.
The original Telegraph article: But now blockchain can support a wide range of applications, and is already being used for P2P payment services, supply chain tracking and more. A blockchain maintains a growing list of ordered records, called blocks. Each block has a time-stamp and a link to a previous block. In the case of Bitcoin, the blockchain is shared between all Bitcoin users and is used to verify the permanence of Bitcoin transactions and to prevent double spending.
All confirmed transactions are included in the block chain and that enables Bitcoin wallets to calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography. A simple example of a blockchain application from the Forbes article is of a digital medical record: It has a timestamp, the date and time when the record was created.
And by design, that entry cannot be changed retroactively, because we want the record of diagnosis, treatment, etc. Only the doctor, who has one private key, and the patient, who has the other, can access the information, and then information is only shared when one of those users shares his or her private key with a third party — say, a hospital or a specialist.
This describes a blockchain for that medical database. Security is built into a blockchain system through the time-stamping server and P2P network, and the result is a database that is managed autonomously in a decentralised way. This makes blockchains excellent for recording events, transactions, identity management, and proving provenance. Forbes beginners guide to Blockchain: That means that ICOs are issued to raise funds in a reasonably unregulated manner and the coins issued can then easily be traded, although unlike shares they do not confer ownership rights on the holders.
So the company raising funds through ICOs raise the funds they need in liquid cryptocurrency with no regulatory oversight but have to give up no equity in return and the investors could possibly get earlier liquidity on their holdings!
Sounds too good to be true but until real regulation kicks in, it is!! Economist article on ICOs: But where would you start? Blockchain is a truly disruptive technological advance that will have wide-reaching implications which will not just transform the financial services but many other businesses and industries.