Crypto
Andrea Alms Video: Money In Motion 135 - What Is It?... "Crypto"
December 2024 - Private Equity
TRANSCRIPT
Hello, my name is Andrea Alms. I'm a technology investor and financial manager and this is your money in motion. Welcome to our series on cryptocurrency and crypto. As a review from last episode. Crypto is a digital currency that uses cryptology to ensure secure transactions without a central bank or government. Just quick review from last time. Here are some key characteristics of cryptocurrencies.
No central authority and so on. Bottom line no guardrails and risky. On the last episode, we introduced this organizational chart of the crypto ecosystem. There is much confusion on terms and definitions. Today we focus on terminology. What is a blockchain? Blockchain is the underlying technology that allows cryptocurrency cease to exist. Blockchain is a technology that allows the secure, permanent and transparent sharing of information and transactions across a network of computers.
It is a type of distributed ledger technologies that uses Cryptography to create a record of data. What is a crypto coin? A crypto coin is a native to a blockchain, meaning it operates on its own network and has its own independent ledger. There is only one coin per blockchain network, and the next episode we discuss what is a token and this comparison between coins and tokens.
Thank you. This is your money. Your money in motion.