Cryptocurrency Decentralization Explained!
April 19, 2021
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as posted by the channelWelcome back to Bold TV with Julia Sun! Be sure to like, subscribe, and hit the notification bell for all things BOLD.
Cryptocurrencies aren’t a mystery, they’re just digital tokens. But if you're asking yourself, "What is Bitcoin worth," we're here with what you need to know.
Digital tokens can be anything that stores value, and we mean ANYTHING.
It has value because a lot of people, and by that we mean A LOT of people, believe that whatever it is it represents a value.
Think sea salt, conch shells, barley, and copper. Our ancestors used these to get food and whatever else they needed because people collectively said these things were worth something.
Cryptos work the same way except through a digital glass jar called a ledger system. This ledger system is created through Blockchain, or Blockchain technology.
New cryptos can be invented at any time, but what is more interesting is what these new cryptocurrencies can do to facilitate new ways to be of help in this world? Cryptocurrency, Bitcoin for instance, isn’t backed by the faith of governments or banks. It’s back by the faith of people in other people, people like you and me. Hence the buzzword, decentralization.
#Crypto #Tech #JuliaSun
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