A High-level Glance At Cryptocurrencies as a Distributed Cash Exchange System
Cryptocurrencies, such as Bitcoins, Ethereum, Ripple & other altcoins, has been attracting great attention within the last decade. Starting with a value less than a thousandth of a US$ in 2009 to more than 5000$ in Oct 2017, proved that digital currencies has gained people’s trust and that it has potential to be a wide spreading cash exchange platform. Cryptocurrencies is fundamentally different from other digital payment services such as PayPal in the sense that it is totally digital which relieves the need to link your personal bank account or credit card. In my talk, I will cover the main pillars that make cryptocurrencies a practical and safe digital distributed trading system. I will start by laying the cryptographic foundation, moving to the concepts of how digital currency exchange and transactions work, and finally covering the high-level technical details of the way cryptocurrencies provide security and anonymity as a Peer-to-Peer system having Bitcoin as an example.