Cryptocurrencies - A Serious Introduction
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The document introduces cryptocurrencies as digital currencies using cryptology for security, emphasizing their decentralized nature and the popularity of Bitcoin. It discusses the mining processes and various algorithms while highlighting different cryptocurrencies such as Litecoin and Dogecoin. Additionally, it covers the usage of coins for transactions and their potential for innovation in new applications.
Cryptocurrencies - A Serious Introduction
- 1. Cryptocurrencies A Serious Introduction Drake Emko Revionics
- 2. Cryptocurrency: What? It is a Digital Currency that uses cryptology for security Decentralized Not issued by any central authority Trust based on peer-to-peer consensus Anonymous (More or less) Transactions are not tied to your identity Wow? Bitcoin is the first and most popular cryptocurrency, created in 2009
- 3. Why? For Businesses No (or low) transaction fees compared to credit cards! coinpayments.net moolah.io Built in customer base of cryptocurrency enthusiasts Source: coindesk.com
- 4. Why? For Users Distrust of government surveillance, currency manipulation FUN Community Mining Currency trading Maybe get rich!
- 5. Cryptocurrency: Which? Bitcoin Biggest Most valuable Litecoin Second biggest (arguably) Easier to Mine Dogecoin Silliest Best community
- 6. All of the Rest! source: altcoinherald.com
- 7. Not All Coins Are Equal Source: coingecko.com
- 8. Developments - Mining Proof of Work (PoW) algorithms Old School - Only big mining farms using ASICs can profit SHA-256 - Bitcoin Next Generation - Make algorithm more memory intensive, give GPU miners a chance! Scrypt - Litecoin, Dogecoin Brave New World - Defeat the first generation of ASICs! Scrypt-N, X11, X13 - Vertcoin, Darkcoin, CloakCoin such environmental!
- 9. More Developments Proof of Stake (PoS) - Earn coins by holding them (like interest) Pandacoin (PND), Reddcoin, Bottlecaps Improved anonymity Darkcoin, Monero, Anoncoin Outside the Box! Colored Coins - Create your own currency on the Bitcoin network Mastercoin, Bitshares, Counterparty - Financial derivatives, savings wallets, decentralized exchange Ethereum - Framework and programming language for creating cryptocurrencies such advanced!
- 10. How to Mine Coins CPU Mining Download: sourceforge.net/projects/cpuminer
- 11. How to Mine Coins GPU Mining such efficient! Download: Mac Miner cgminer & more
- 12. How to Mine Coins ASIC Mining Fastest Expensive such such such fast much warn: most hardware companies = SCAM
- 13. How to Mine Coins Entry Level ASICs: try Ebay less bankrupt!
- 15. How To Use Coins Tipping on social media Donate to good causes Buy stuff!
- 16. New Frontiers Such many apps to develop! Everything is new...