Читать книгу Cryptocurrency All-in-One For Dummies онлайн

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This chapter gets into more detail about how cryptocurrencies use blockchain technology, how they operate, and how they’re generated, as well as some crypto geek terms you can impress your dates with.

Cryptocurrencies are also known as digital coins, but they’re quite different from the coins in your piggy bank. For one thing, they aren’t attached to a central bank, a country, or a regulatory body.

Here’s an example. Say you want to buy the latest version of Cryptocurrency All-in-One For Dummies from your local bookstore. Using your normal debit card, this is what happens:

1 You give your card details to the cashier or the store’s point-of-sale system.

2 The store runs the information through, essentially asking your bank whether you have enough money in your bank account to buy the book.

3 The bank checks its records to confirm whether you do.

4 If you do have enough, the bank gives a thumbs-up to the bookstore.

5 The bank then updates its records to show the movement of the money from your account to the bookstore’s account.