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Bitcoin is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 by Satoshi Nakamoto, an unknown person. Use of bitcoin as a currency began in 2009, with the release of its open-source implementation. In 2021, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, its use by criminals has attracted the attention of regulators, leading to its ban by several countries as of 2021.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
The XRP Ledger (XRPL) is a cryptocurrency platform launched in 2012. The XRPL employs the native cryptocurrency known as XRP, and supports tokens, cryptocurrency or other units of value such as frequent flyer miles or mobile minutes.
Vitaly Dmitrievich Buterin, better known as Vitalik Buterin, is a Canadian computer programmer and co-founder of Ethereum. Buterin became involved with cryptocurrency early in its inception, co-founding Bitcoin Magazine in 2011 and Dark Wallet in 2013 together with Amir Taaki and Cody Wilson In 2015, Buterin deployed the Ethereum blockchain with Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.
Circle is a peer-to-peer payments technology company that now manages stablecoin USDC, a cryptocurrency the value of which is pegged to the U.S. dollar. It was founded by Jeremy Allaire and Sean Neville in October 2013. Circle is headquartered in Boston, Massachusetts. USDC, the second largest stablecoin worldwide, is designed to hold at or near a stable price of $1. The majority of its stablecoin collateral is held in short-term U.S. government securities.
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Since each block contains information about the previous block, they effectively form a chain, with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
Andreas Markos Antonopoulos is a British-Greek Bitcoin advocate, tech entrepreneur, and author. He is a host on the Speaking of Bitcoin podcast and a teaching fellow for the M.Sc. Digital Currencies at the University of Nicosia.
"Fintech", a clipped compound of "financial technology", refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, including mobile banking, online lending platforms, digital payment systems, robo-advisors, and blockchain-based applications such as cryptocurrencies. Fintech companies include both startups and established technology and financial firms that aim to improve, complement, or replace traditional financial services.
Monero is a cryptocurrency which uses a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading Monero, transaction amounts, address balances, or transaction histories.
A distributed ledger is a system whereby replicated, shared, and synchronized digital data is geographically spread (distributed) across many sites, countries, or institutions. In contrast to a centralized database, a distributed ledger does not require a central administrator, and consequently does not have a single (central) point-of-failure.
Firo, formerly known as Zcoin, is a cryptocurrency aimed at using cryptography to provide better privacy for its users compared to other cryptocurrencies such as Bitcoin.
Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA.
The Lightning Network (LN) is a payment protocol built on the bitcoin blockchain. It is intended to enable fast transactions among participating nodes and has been proposed as a solution to the bitcoin scalability problem.
A cryptocurrency wallet is a device, physical medium, program or an online service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. Signing can for example result in executing a smart contract, a cryptocurrency transaction, identification, or legally signing a 'document'.
In blockchain, a fork is defined variously as:
A stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities, or another cryptocurrency.
Charles Hoskinson is an American entrepreneur who is a co-founder of the blockchain engineering company Input Output Global, Inc., and the Cardano blockchain platform, and was a co-founder of the Ethereum blockchain platform.
Avalanche is a decentralized, open-source Layer-1 blockchain that uniquely combines a tri-chain architecture with customizable Layer-1 networks, enabling diverse applications and sovereign blockchains within its ecosystem. It was developed by Ava Labs and launched in 2020.
Molly Allen White is an American software engineer, Wikipedia editor, and crypto skeptic. A critic of the decentralized blockchain (Web3) and cryptocurrency industries, she runs the website Web3 Is Going Just Great and a newsletter, which document malfeasance in that technology space. White has appeared in Web3-related news, consulted on federal legislation for regulating the crypto industry, and successfully proposed that the Wikimedia Foundation cease to collect crypto donations. White additionally volunteers as a Wikipedia editor and is among the site's most active women. She has edited a range of articles on right-wing extremism.
References
- 1 2 "Glenbrook Partners General Information". PitchBook.
- ↑ Marek, Lynne (2023-04-17). "FedNow spurs industry intrigue". Payments Dive. Retrieved 2024-12-19.
- ↑ Mason, Emily (2023-07-21). "Better Late Than Never: Federal Reserve Platform Will Finally Bring Instant Payments To More Banks–And Customers". Forbes.com. 2024-12-19.
- ↑ The New York Times Editorial Staff, ed. (2018). Cryptocurrencies: Bitcoin, Blockchain and Beyond. Rosen Publishing Group, Incorporated. p. 109. ISBN 9781642821246 . Retrieved 2024-12-19.
- ↑ Peyton, Antony (2016-09-05). "US credit union consortium plots blockchain use". Fintech Futures. Retrieved 2024-12-19.
- ↑ Schatt, Dan (2014). Virtual Banking: A Guide to Innovation and Partnering. Wiley. p. 151. ISBN 9781118742471 . Retrieved 2024-12-19.
- ↑ "GLENBROOK PARTNERS, LLC". Dun & Bradstreet. Dun & Bradstreet . Retrieved 2024-12-19.
- ↑ Cooley, Patrick (2024-10-15). "More authentication leads to fewer approvals". Payments Dive. Retrieved 2024-12-19.
