A user-friendly primer on one of the internet's hottest and most confusing topics.
“What would you say to the folks that say, ‘This doesn’t seem like a new financial system per se, but really an extension, or perhaps expansion, of our present one?’” Rep. Alexandria Ocasio-Cortez asked the panel during the December 8 House hearing.
As it turns out, you don’t need to accumulate an encyclopedic knowledge of blockchain programming to meaningfully understand cryptocurrency. A fascinating picture emerges from asking the simplest questions about these unique digital assets:A blockchain is a series of encrypted units of information. Before it’s added to the chain, each “block” is run through an algorithm that produces an encrypted identifier.
Included in each block is the identifier of the block preceding it, thus creating a chain of encrypted information with a definite sequence.over 100 million users in large part due to the promise of highly secure transactions — the first level of such protection is created through the encryption process. If someone decides to return to a previous block and alter the information to their advantage , this would alter the encrypted identifier and therefore “break” the block and all subsequent ones.
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