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In order to understand cryptocurrency, it is important to study both "crypto" and "currency"

All Cryptocurrencies

by COINS NEWS 72 Views

I think John Oliver put it best when he described cryptocurrency as "everything you don't understand about computers combined with everything you don't understand about money"

You need to understand both if you want to come out on top in this game. Learn about the "crypto" by studying cryptography. How does a hash get generated? Why is mining difficult? How do you sign a transaction and confirm that it is a valid transaction? Those are things you should know about cryptography.

Here are some resources to learn more about cryptography:

- https://www.thegeekstuff.com/2012/07/cryptography-basics/
- https://www.fortinet.com/resources/cyberglossary/what-is-cryptography
- https://medium.com/@tattwei46/basics-of-cryptography-18d01b952dde

Currency is the other thing you will need to begin to understand if you want to succeed. Where does currency come from? Why do people use currency? What does a bank provide as a service? Why is that service flawed? What are the properties of currency that need to be fixed and why?

Here are some more resources to learn about money and currency:
- https://www.investopedia.com/insights/what-is-money/ (Investopedia is a great resource to learn about investing as well)
- https://www.britannica.com/money/topic/money
- https://www.imf.org/external/pubs/ft/fandd/2012/09/basics.htm

submitted by /u/mc292
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