FTO Series – Ep02 – A short story of… e-currency

What are cryptocurrencies? Cryptocurrencies are electronic
units also called tokens. They have been designed to imitate unmistakable
goods and precious metals such as gold. They can only be retrieved through
hard and arduous work. The assumption of
cryptocurrencies is the same. During 100 years, all government’s
currencies lost over 90% of their value, while gold maintained its value. In their plan, cryptocurrencies are to fulfill
one of the basic functions of money, which is to maintain,
and even increase in value. State currencies can not
fulfill this function. The end of the 20th century marks the turning point in the communication and cryptography technique. The internet and asymmetric
cryptography appeared. Both of these inventions underlie
today’s cryptocurrencies. What are the features that a given project must
fulfill in order for it to be called a cryptocurrency? The source code,
ie the recipe for the algorithm, understood by man, must be made public.
Open source code. The main book that stores
the history of all transactions from the beginning of the existence
of cryptocurrencies up to now, can not be able to change
anything or edit or delete. Cryptocurrency exists only in digital form. The whole system is dispersed. There is no parent node that monitors
the system and can affect its operation. There is no person or institution that
has the ability to disable the system or influence its work. FuturoCoin meets all these criteria, which is why it is cryptocurrency. But where did the
cryptocurrencies come from …

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