August 2018
Beginner to intermediate
94 pages
2h 37m
English
Content preview from Learn Bitcoin and Blockchain
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Workings and security of fiat currencies
Before we understand cryptocurrency, let's first look at some basic currencies used around the world. These currencies are also known as fiat currencies.
They are shown in the following diagram:
Some of the characteristics of fiat currencies are as follows:
- These are owned by the governments of countries
- They are centrally controlled through banks or legal entities
- They are inflationary, meaning the value of a currency decreases
- They include various security properties to prevent counterfeiting and cheating, but it is not impossible to counterfeit them
Since it is not impossible to counterfeit currencies, ...
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I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.