CryptoURANUS Economics: Cryptography-Cryptocurrency


Thursday, July 25, 2019



Cryptography is the practice and study of techniques for secure communication in the presence of untrusted third parties.

Cryptography is about constructing and analyzing protocols that prevent third parties or the public from reading private messages and intercepting transactions.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.

Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.

The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency.

Since the release of bitcoin, over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.

Trezor uses the most modern and sophisticated cryptographic protocols to protect your funds, transactions, communication, passwords and to back up your wallets.

See also: Elliptic-curve cryptography, Public-key cryptography

Like Trezor? Get one here!

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