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--- crypto:introduction [2025/12/02 21:00] – deathrequiem
+++ crypto:introduction [2025/12/27 07:24] (current) – deathrequiem
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 **###What is Cryptocurrency?###**
-Crypto is a form of **digital currency** that operates without the need for banks or governments. First introduced as Bitcoin (BTC) in 2008 by the mysterious Satoshi Nakamoto, Bitcoin runs on a decentralized network and was launched as open-source software in 2009. Since then, the project has been forked and thousands of alternate Cryptocurrencies have been created and released, some using the same algorithm as Bitcoin, and others on completely different algorithms and networks.
+Cryptocurrency, or simply "Crypto", is a form of **digital currency** that operates without the need for banks or governments. First introduced as Bitcoin (BTC) in 2008 by the mysterious Satoshi Nakamoto, Bitcoin runs on a decentralized network and was launched as open-source software in 2009. Since then, the project has been forked and thousands of alternate Cryptocurrencies, or "Alt Coins/Tokens", have been created and released.
+**###What is a Crypto Decentralized Network?###**
+A crypto decentralized network is a peer-to-peer system where control and data are distributed across many computers (nodes) instead of being managed by a single central authority, like a bank or government. Transactions are verified through a consensus mechanism, and each node holds a copy of the blockchain, making the network resilient, transparent, and secure because no single entity can control or manipulate it.
+  * **Decentralization**: No single entity controls the network, decisions are made collectively, and the system is more resistant to censorship.
+  *
+  * **Transparency**: All transactions are recorded on a public ledger, which is visible to all participants.
+  *
+  * **Security**: The distributed nature and consensus mechanisms make the network very secure, as altering data would require changing the majority of the nodes' copies simultaneously
 **###What is a blockchain consensus mechanism?###**
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 However, the two most popular are known as the proof-of-work (PoW) and the proof-of-stake (PoS) consensus mechanisms.
-Proof-of-work (PoW)
+  * **Proof-of-work (PoW)**
 Proof-of-work is the consensus mechanism used by bitcoin and a wide range of other cryptocurrencies.
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 In terms of providing security, as more miners join the network and the sophistication of equipment rises, the cost of attacking the Bitcoin blockchain rises exponentially. This is because a perpetrator would have to source an extremely large amount of computational power to gain a 51% majority over the rest of the network. Even then, there would be no guarantee they’d win the mining competition every ten minutes to successfully establish an invalid chain of new blocks.
-Proof-of-stake (PoS)
+  * **Proof-of-stake (PoS)**
 Proof-of-stake is a relatively new type of consensus mechanism pioneered by Sunny King and Scott Nadal in 2012. Like proof-of-work, PoS fulfills the same key objectives of a consensus mechanism but in a uniquely different way.