The need to record transactions among humans became necessary as inhabitants of early civilized villages transferred assets or services.
Any transaction requires either a medium of exchange or a contract (or both). In the early days, these trades were fulfilled by an exchange of markers, stones or sticks in return for assets or services.
The recording of transactions is now being transformed by blockchains technology that will disrupt commerce as we know it.
Bitcoin is “mined” on blockchain technology. The purose of this book is to enlighten you about why Bitcoin and other cryptocurrencies are volatile and speculative while the technology upon which they are based, the blockchain, is a trusted and immutable distributed ledger.
It is all about trust and eliminating the middleman by employing immutable distributed ledger technology.