Cryptocurrencies, blockchain technology, ...


Cryptocurrency – a type of digital token based on cryptography used to digitally sign transactions and to control the increase in the supply of tokens. Cryptocurrencies are based on a decentralized peer-to-peer (P2P) network.

Cryptocurrencies are value carriers. Some of them fulfill all or some of the functions of money, such as:

  • divisibility;
  • value preservation (with a certain caveat regarding the amplitude of cryptocurrency price fluctuations);
  • convertibility.

They have not yet been widely recognized as fully legal money or currency, although they are in increasing use.


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Bitcoin (in the sense of currency – lower case) performs two functions:

  • regarding the entire payment system and
  • how to implement it using a digital token.

The bitcoin system was designed by Satoshi Nakamoto in such a way that direct transactions peer-to-peer (P2P) between users are possible, i.e. without the intermediation of the so-called a third party (e.g. a bank).

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