What is cryptocurrency?

Cryptocurrency is pretty cool but getting your head around the terms "decentralised" and "cryptography" can make our heads spin and wonder if this currency was only designed for super-nerds. Short answer: it's not. Cryptocurrency, and in particular the "OG" bitcoin, was designed to be used by everyone, and the people who designed cryptocurrency in the '90s and early '00s would be elated to see us women using it. Sophie & Nikita break down the question of what is cryptocurrency and how it's different from the digital money we see on our online banking accounts. Understanding how cryptocurrency works on the "blockchain network" (hint: it's just a database stored on lots of computers around the world), is the gateway drug to understanding how different applications can work on the blockchain. Did we hear authenticating Louis V via the blockchain back there? Topics covered: -What is money? - The Gold Standard - How did computer scientists make something that had no central authority, trustworthy? - What is blockchain and what does it look like? - How is the bitcoin network less-hackable than a normal bank? - Scalability: why bitcoin is slow to transact with, and why Visa is faster. **Show notes available at: cryptogirlshq.com/shownotes** -- Follow us:  instagram.com/cryptogirlshq twitter.com/cryptogirlshq www.cryptogirlshq.com -- Disclaimer: CryptoGirlsHQ is not a financial adviser. There are risks involved in placing investments in securities, cryptocurrencies, and other asset classes such as NFTs. None of the information disseminated in this episode is intended to be financial advice or an investment recommendation and is for informational entertainment purposes only. Please see our legal disclaimer at: https://cryptogirlshq.com/legal

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