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And although the "new" word has helped simplify the concept of Bitcoin, by making many people understand, this really represents a gigantic conceptual mistake that should not continue.
Bitcoin is the first technology It allows the exchange of digital assets between anyone quickly, with reduced costs, without borders or permissions from anyone, only with an Internet connection and a wallet of cryptocurrencies. Its technology arose from the conjunction of others: working tests with incentives, cryptography and a time stamp server, also known as blockchain or " block chain "(separated).
of these technologies plays a role. And if any of them were eliminated, bitcoin or other cryptocurrencies would not be what they are: decentralized networks that allow the transfer of value safely without the possibility of censorship. Cryptography protects against invalid transactions and the blockchain serves as a record of evidence of transactions made. Then, the work test with incentives allows to decentralize the network and reach a consensus on the state of its accounting, avoiding double spending (spending twice the same asset), corruption and censorship .
As you can see I mean "blockchain" technology like Bitcoin, which, yes, includes a chain of blocks, but it's much more than that. It would be like calling the car wheel, the antenna to the radio, the screen to the television or the ink to the press. All parts of something bigger.
We need a term that allows us to call technology generically, without using a specific "brand" like Bitcoin or Ethereum, which contemplates its nature and does not generate confusion. Until now, "crypto-active" seems to be a good word because it includes two key definitions of the technology: cryptography, this native mathematical language of these networks that guarantees integrity and allows the verification of the # 39; information; and assets, the "whole of all property and monetary rights that are the property of a company, institution or individual" as defined by the Royal Spanish Academy.
And in general, when you see the forest from above and observe the result of all the interaction of all the associated techniques, what we get with technologies such as Bitcoin or Ethereum is that: cryptographic assets, the clear and irrevocable representation of the property in digital form. A definition specific enough to be unique and delimit this type of technology without underestimating its parts, and broad enough to represent almost everything from documents and real estate to identity and money . Because, ultimately, everything that can be recorded and recorded in this accounting book that is part of the technology, is a property.
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