Knowsome - A short course about Cryptocurrency | general knowledge, fun facts and trivia!

Cryptocurrency, Decentralization, Blockchain and more

Cryptocurrency

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of units, and verify the transfer of assets.

Decentralization

Decentralization or is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group.

Blockchain

A blockchain is a growing list of records (blocks) that are linked using cryptography. Its design has inspired other applications, and blockchains that are readable by the public are widely used by cryptocurrencies.

Proof of work

Bitcoin is a proof-of-work cryptocurrency that, like finney's rpow, is also based on the hashcash pow.

Smart contract

A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.

Cryptocurrency exchange

A cryptocurrency exchange or a digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies.

Money laundering

Money laundering is the illegal process of concealing the origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.

Money laundering

While some cryptocurrencies under recent development have aimed to provide for more possibilities of transaction anonymity for various reasons, the degree to which they succeed is controversial.