Abstract – Understanding Cryptocurrencies

Abstract

The book intends to provide a high level overview of cryptocurrencies to a new enthusiast by using layman language and limiting many of the technical aspects, providing a very condensed version of this vast development of digital currencies.

Blockchain is the new revolution after the Internet that is going to change how we do business today. Cryptocurrencies are the money of the future. These two statements are a positive affirmation from many corners around the world. The author provides a balance of introduction and depth regarding blockchain, hot cryptocurrencies, and their comparisons.

Bitcoin, being the pioneer, is discussed in greater detail. The reader will gain the basic idea of bitcoin mining, trading, and investing. With special interest in the various usages of blockchain and interest on traditional banking systems are also discussed.

Keywords

bitcoin; blockchain; borderless currency; cryptography; decentralized technology; digital ledger; ethererum; impact on traditional banking system; increasing acceptance of digital currencies by online businesses; leading cryptocurrencies and their comparison; money of the future; peer-to-peer participation; proof-of-work