digital currency
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5 Terms
what is digital currency
type of money that exists electronically
how is digital currency being used
buys goods and services online
transfers money
make fast international payments
what is a blockchain
a digital ledger that records the transactions that are stored in blocks that are linked in time order
what are the key features for a blockchain
series of records
cannot be changed when added
how does a blockchain tracks digital currency transactions
a transaction is made
transactions is turned into a block
the block gets verified by the computers on the network
block gets added to the chain
blockchain updates everywhere making it impossible to change the record
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Flashcards (35)