Crypto crypto economics

Discussion in 'Other Asset Classes' started by Cannon8tor, 15th Feb, 2020.

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  1. Cannon8tor

    Cannon8tor Member

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    Hi

    Can someone please explain to me how cryptocurrencies could potentially replace our current economic paradigm without a fractional reserve lending aspect inherent within the algorithm???
     
    Cannon8tor, 15th Feb, 2020
    #1
  2. datto

    datto Well-Known Member

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    What's an algorithm?
     
    datto, 15th Feb, 2020
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  3. Cannon8tor

    Cannon8tor Member

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    The SHA-256 hash algorithm used by Bitcoin. The SHA-256 hash algorithm takes input blocks of 512 bits (i.e. 64 bytes), combines the data cryptographically, and generates a 256-bit (32 byte) output. The SHA-256 algorithm consists of a relatively simple round repeated 64 times.

    Drr!
     
    Cannon8tor, 15th Feb, 2020
    #3
  4. datto

    datto Well-Known Member

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    I thought it was a board game.
     
    datto, 15th Feb, 2020
    #4