Episode notes
Cryptocurrency is defined as an encrypted data string that denotes a unit of currency. It is monitored and organized by a peer-to-peer network called a blockchain that also serves as a secure record of transactions. Unlike physical money (or issued currency by a government or bank), cryptocurrencies are decentralized, or not issued by a single entity. Cryptocurrencies are created and secured through algorithms that are maintained and confirmed in a process called mining, where a network of computers or specialized hardware such as application-specific-integrated circuits (ASICs) process and validate the transactions. The process incentivized the miners who run the network with the cryptocurrency.
In podcast #35 Millennial Z and Boomer X talk about what has happened to cryptocurrency the last several months and several years while discussing ...
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