Crypto Notes

• Halving time - every 4 years
• Value goes up 1 year after halving
• MD5 checksum - variable quantity of data - pass it through a checksum. Fixed length checksum is created.
• Cryptographic - is a one way hash function. Takes public data, add a nonce. To get a certain number of zeros at the start of a hash.
• Hash cash - brute force a calculation. Hash cash was concept used.
• 51% of miners decide when to do the next halving.
• Non egalitarian mining - you need serious equipment - which .
• Now banks are investing in crypto. But stocks. Institutional investors now.
• Bitcoin can not be debased.
• Banks that control the world are getting crypto. Social problem of debt slavery is not being solved.
• ERC20 token- do an ICO on the Ethereum blockchain.
• Premine - only person mining before announcing.
• If crypto crashes - then OSE ICO would not be a good idea.
• FB tried to launch a stablecoin, Libra.
• What is a stablecoin? Based on other assets. Libra is best example of it.
• Benefit of stablecoin is that it is stable. Stable coins are permissioned.
• Bitcoin made explicit - cannot reverse it.
• If goal is to raise
• On Ethereum blockchain, it's easy to start a coin - ERC20 token.
• Define an object in data - data structure. Data structure - that is a linked list. Forms a chain. Structure of data is a block chain. Block is append only. Block is a ledger (who sold what). Miners take ledger - and package it. Every few minutes, a new block is made.
• Smart contracts.