• Purely digital
  • Transaction fees are much smaller because there are no middle men (fees go to miners)
  • Decentralized, no central bank or governing authority or regulatory
  • “They are not secured by people or by trust, but by math. It is more probable that an asteroid falls on your house than that a bitcoin address is compromised.” What is Cryptocurrency
  • Fraud-proof (due to keys and mining and blockchain)
  • Mining is how transactions get verified (to prevent forgery). It’s also how new coins get created.
  • Mining difficulty increases as miners mine faster
  • Rewards are halved every 210,000 blocks. Last coin will be mined in 2140

Cryptocurrency Transactions

  • Irreversible
  • Anonymous
  • Fast and global
  • Secure
  • Permissionless

Monetary Properties

  • Controlled supply

  • Each currency has its own network