The terms “bitcoin” and “blockchain” flooded headlines after the value of the cryptocurrency more than tripled in the fourth quarter of 2017. But if you are not a currency trader or a technology expert, chances are you may not be fully familiar with their underlying concepts. Mohit Mamoria, the CEO of cryptofund Authorito, helps laypeople understand blockchain in this easy-to-follow blog post on Medium.
In this summary, you will learn
- What constitutes a blockchain,
- How the blockchain eliminates the need for a broker to process money transactions, and
- Which incentives the bitcoin network uses to encourage participants to keep the system going.
About the Author
Mohit Mamoria is the CEO of the cryptofund Authorito Capital.