Cryptocurrencies: Difference between revisions
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This is just a general concept. Read more in [[ | This is just a general concept. Read more in [[ru:Криптовалюты]] | ||
Cryptocurrencies are value storage systems whose reliability and correctness are guaranteed by mathematical theorems, not by people. They are like banks, only without people. | Cryptocurrencies are value storage systems whose reliability and correctness are guaranteed by mathematical theorems, not by people. They are like banks, only without people. | ||
Revision as of 22:13, 8 January 2023
This is just a general concept. Read more in
Cryptocurrencies are value storage systems whose reliability and correctness are guaranteed by mathematical theorems, not by people. They are like banks, only without people.
Stablecoins are digital IOUs with a specific denomination, although they work on blockchains and are protected by cryptography, they are controlled by specific people and can block users. Therefore, they are actually banks, not cryptocurrencies.
| Banks and stablecoins | Decentralized cryptocurrencies | |
|---|---|---|
| Jurisdiction | Specific state or organization | Independent of states and people |
| Blocking transactions or access to funds | At the request of the state or the bank | Not allowed[1] |
| The store writes off without your knowledge | Maybe | Impossible |
| Possibility to receive funds in case of password loss | On presentation of passport | No way |
| Rollback of erroneous or fraudulent transactions | Yes | No |
- ↑ But you can block a user's access to the blockchain.
Blockchain
Blockchain is a distributed storage of information about transactions and other information. Mathematics guarantees that data forgery in it is quite improbable (tampering and distorting data will require incomparably more effort than the possible benefit from forgery).
Montelibero
The main blockchain in which tokenomics] Montelibero is conducted is Stellar. In everyday life, we actively settle with EURMTL stablecoins.