Once appeared on the scene back in 2009, Bitcoin was the first so-called cryptocurrency. The price was less than dollar, now it is dancing between $20.000-$10.000 over the last 2 years. Some call it "The Internet 2.0", others remain sceptical about its suitability. From trendy financial experts to media-stars all have discussed Bitcoin and New Crypto World so far. How that popularity is possible and what is the idea between new world digital relationships collected and organizied in "crypto assets"? Here's the post I want to make not on a price but on a prolific realization of the idea that cryptocurrencies suggest to the new world.
People use cryptocurrency nowadays anywhere in the world. Some African country (I won't give you the name right now, Google it) even uses Bitcoin as a national currency after their previous one was defaulted. The security of operations between people is provided by blockchain - a database which operates automatically and doesn't have the owner (the codes and algorithms can work this way). Though Bitcoin transaction can be slow its code guarantees that there will be no middlemen who can just stop your money movement. Today there is a huge amount of cryptocurrencies which can provide fast (even 1 sec.) transactions including these safety functions. But what does decentralization mean?
Though what is purely revolutionizing is not the idea to make transactions fast, without fees and any organizations providing control over all operations but a thing which we call a decentralization. Supporting the idea of decentralization, millions of people proclaimed crypto currencies like Bitcoin, Litecoin, Ethereum and others to be the way of a building new society. The idea is simple - the code which is not owned by anyone works for everyone performing the same functions for every individual using it. There appeared even a new groups of so-called crypto-anarchists claiming they can change the whole government functions to the decentralized blockchains. Ethereum is already doing it by including people's agreements in smart-contracts. By exchanging Ethereum cryptocurrency people exchange smart-contracts, the rules they previously agreed on to each other.
This photo was made by ooppers