3 Blockchain, Virtual currencies, Cryptocurrencies, and Tokens
3.1 Introduction
To understand the current and the potential future role of cryptocurrencies in the international monetary system, it is necessary to understand the logic, functioning, and main technical aspect of cryptocurrencies. The aim of this chapter is to present and describe the technologies that have made cryptocurrencies possible and that guarantee their reliability, to understand if (and how) cryptocurrencies represent a potential evolution of the concept of money and their chance to compete with traditional money and payment systems.
The analysis of the blockchain and its combination with cryptography will help to understand how the creation ...
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