CRIM 380 Lecture Notes - Lecture 12: Payment Service Provider, Complementary Currency, Fault Tolerance
11 Aug 2021
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Document Summary
As technology is evolving there is a prevalence of digital currencies becoming more popular. There are many reasons for the popularity amongst digital currencies which include their capability to be anonymous as well as fast transfers and easy to use platforms. The paper will further discuss digital currencies in order to provide lame with further information on the cryptocurrency marketplace as well as provide my final thoughts on why the ransom on lame should be paid. Bitcoin and other digital currencies are digital assets and are essentially based on trust, they are also intangible like a company"s stock and are similar to in-game currencies (frank, Digital currencies have originated from what is known as blockchain technology. If it is approved, then the block is added to the transactions and the process of adding a block to the blockchain is called mining (frank, 2021).
