decentralized

TOTW: Cryptocurrencies

  • Posted on: 4 December 2017
  • By: thecollective

In 2009 the cryptocurrency Bitcoin was released to the public as open-source software. It was the first decentralized digital currency that works without a central repository or single administrator. The network is peer-to-peer and transactions between users take place through the use of cryptography, without an intermediary. Over the past few weeks Bitcoin and many other cryptocurrencies have seen increased public interest, with one Bitcoin currently worth $11,531USD as of this writing (6:10 pm, EST).