There’s a number of reasons why cryptocurrencies are so inherently
popular. They are safe, anonymous and utterly decentralized. Unlike
conventional currency, they are not controlled or regulated by some singular
authority, their flow is determined entirely by market demand. They are also
nigh impossible to counterfeit, thanks to the paranoidly complicated code
system that encrypts each and every transfer, ensuring complete anonymity and
utter safety to each and every user. They even make for a genuinely rewarding,
if risky, investment endeavor, despite the fact that any financial advisor in
their right mind will caution you against them. Therefore, despite the
admittedly high stakes that this sort of dealing entails, not to mention the
lack of any government agency to lend credence to them, cryptocurrencies can
only thrive and multiply.
If I were to tell you of the history of cryptocurrencies, I
would have to begin with cryptographer David Chaum, who in the 1980s devised an
extraordinarily secure algorithm that allowed for the kind of encryption
required in electronic fund transfers. Chaum’s “blinding algorithm” laid the
groundwork for the future development of all types of digitalized currency
transactions, be it alternative currencies like Bitcoin or just plain old
digitalized cash transfers.
“I am personally excited for the future of cryptocurrencies and
blockchain technology in general. Current innovations such as Bitcoin,
Ethereum, and others are just the beginning for this technology that can help
revamp many industries. There is plenty of opportunity in this space.” -
Chalmers Brown, Forbes
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