Cryptocurrency: What it is and how it works

On the 28th episode of Zemach FM, we are discussing cryptocurrencies. We talked about what they actually are, what technologies are involved in the sector, how people can participate in the technology, and if cryptocurrency can be a solution to developing countries like Ethiopia.

Links In The Episode

Inside the cryptocurrency revolution

Episode Timelines

01:50 Episode introduction

03:10 What exactly is a cryptocurrency

04:10 Why cryptocurrency is decentralized

06:30 Characteristics of cryptocurrency

10:20 Technologies behind cryptocurrency

10:26 What is blockchain

11:50 How blockchain came in to existence

12:10 Components of blockchain

14:11 Mechanisms to prevent tampering with the block chain

15:00 What is a peer to peer connection

16:45 What it takes to successfully tamper with the block chain

18:25 Mining rigs

19:50 Why is a mining rig required these days

25:00 How can some one participate in cryptocurrency

26:00 Mining pools

27:50 The concept of web mining

30:05 Why it is impossible to mine cryptocurrencies with normal hardware

35:30 Where cryptocurrencies are stored (wallet)

35:14 Can developing countries benefit from cryptocurrency

36:30 Russia and cryptocurrency

40:00 Why it is hard for countries to accept cryptocurrency

43:20 Some pros and cons of using cryptocurrency

Contact the hosts

Henok Tsegaye Twitter Instagram LinkedIn

Abdulhadmid Oumer Twitter Instagram linkedIn

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