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Cryptocurrency.md (876B)

      1 # Cryptocurrency
      2 
      3 **Source:** MIT MAS.S62 Cryptocurrency Engineering and Design L1
      4 
      5 **Definition:** Cryptocurrency is a digital asset that uses a digital ledger for tracking transactions.
      6 
      7 ## Some properties we'd like
      8 
      9 1. Permissionless
     10     - Money can be spent only if it is owned by the individual
     11     - No authority limiting transactions
     12 2. No double spends
     13 3. Tamper-proof
     14     - Can't take back a spend easily
     15     - Can't tamper with history
     16 
     17 ## [Distributed consensus](DistributedConsensus.md)
     18 
     19 To achieve distributed consensus it is frequently useful to have a distributed log of transactions. In Bitcoin this is achieved using [Proof of Work](ProofOfWork.md).
     20 
     21 ## Links
     22 
     23 - [Coincidence of Wants](CoincidenceOfWants.md)
     24 - [Depository](Depository.md)
     25 - [Chaumian eCash](ChaumianECash.md)
     26 - [Blockchain](Blockchain.md)
     27 - [CAP Theorem](CAPTheorem.md)
     28 - [PACELC](PACELC.md)