I knew a chemist. For a while he was always upset at people calling food organic, noting that inorganic food was impossible in chemistry terms. Being a reasonable guy, he learned to accept it and got over it as the trend grew. In that way bitcoin has pretty much become the definition of cryptocurrency.
I understand the difference between blockchain and currency. But I'm not sure what the definition of cryptocurrency is. Isn't it simply currency that is not centrally controlled? Honest question.
Two methods to support the net work, proof of work, and proof of stake. Proof of work is decentralized which is protected by the number of nodes, you need 51% control to manipulate the network. Proof of stake centrally controlled. Meaning controlled by the few therefore all you need is 51% control to manipulate change modify and steal.
I knew a chemist. For a while he was always upset at people calling food organic, noting that inorganic food was impossible in chemistry terms. Being a reasonable guy, he learned to accept it and got over it as the trend grew. In that way bitcoin has pretty much become the definition of cryptocurrency.
I understand the difference between blockchain and currency. But I'm not sure what the definition of cryptocurrency is. Isn't it simply currency that is not centrally controlled? Honest question.
Two methods to support the net work, proof of work, and proof of stake. Proof of work is decentralized which is protected by the number of nodes, you need 51% control to manipulate the network. Proof of stake centrally controlled. Meaning controlled by the few therefore all you need is 51% control to manipulate change modify and steal.