Intro to Crypto: How Do Cryptocurrencies Have Value?
Qubicles will be highlighting topics of cryptocurrency in an educational monthly series. This is Part 1 in the series.
“Cryptocurrencies are digital assets that combine the science of cryptography with blockchain technology to enable financial transactions quickly, inexpensively, and more securely. Decentralized crypto does everything that traditional fiat money does — and far more — because it is global and not subject to totalitarian government controls or any third-party interference,” as stated in How Does Cryptocurrency Have Value, and Why Should I Care?
“When thinking of the magnitude of each, a useful analogy is to compare the blockchain with the internet and cryptocurrency with email. Email is a technology that relies on the internet platform, just as cryptocurrency is built on top of a blockchain platform,” as stated in The Millionaire Millenials: A Handbook to Crypto Investing.
Actually, not all cryptocurrencies have the same qualities. But, there are some properties that most coins have that are the same:
Be on the lookout monthly for more information on cryptocurrency in our Intro to Crypto: A series at www.qubicles.io/blog.