What is cryptocurrency

Using DPINR is amazing! From the moment you try it, you immediately understand the value of working on-chain. Let's take a moment to learn what cryptocurrency is and why it exists. We'll use clear and easy to understand language.

Let's use a time machine to travel into the past. The year is 2008 and the world has just been dragged through the Great Financial Crisis. Global economies are in ruins. Governments have switched on the money printers to save the banks (that were responsible for this crisis in the first place). Naturally this arrangement didn't go well with millions of people. Their tax money was about to be used to bail out the banks. People took to the streets in protest. We saw the rise of the "Occupy Wall Street" movement and all across the world a quiet revolution was brewing. This collective mastermind eventually gave birth to something never seen before in the entire human history.

Rise of Bitcoin

In 2008 an anonymous individual (or a collective of people) published the very first Bitcoin Whitepaper. For the first time in human history a digital system designed to be used peer to peer (from one person to another) has been invented. The concept was brilliant in its simplicity. It presented us with:

• Solution for the "double spend problem" — people could only spend the coins they had in their wallet and never more than that.
• Eliminating the need for 3rd parties — Bitcoin was designed to work without banks or payment processors in the middle.
• Censorship resistance — No matter who you want to send cryptocurrency to, it will always arrive safely.
• Open system of accounting — Bitcoin's open ledger makes sure that all transactions are verifiable by anyone.
• Mathematical proof of ownership — using a private key, you can prove to anyone in the world that you are the one and true owner of the coins and tokens that you hold in your wallet.

Conclusion

Cryptocurrency is an open, digital and decentralized form of transferring value between people. It's an entire accounting system and last but not least, it's a decentralized, censorship resistant network of computers scattered all over the world that allows it to be antifragile. In other words, this system simply works and it's open to anyone with a digital device (such as a phone or pc) with an internet connection.

Bitcoin was the first. It showed us what's possible and over the years it demonstrated what can be done when like minded people come together to solve real world problems. Today there are much faster and cheaper cryptocurrency networks that do infinitely more than even the Bitcoin developers thought was possible.

Now you understand what cryptocurrency is — this puts you into an elite 8% of the global population. Now you are a crypto OG!