Jan Lanksy, cryptocurrency researcher, believes that cryptocurrency is the currency of the future. He gives six requirements to define the cryptocurrency system.
- “The system does not require a central authority, distributed achieve consensus on its state.”
- “The system keeps an overview of cryptocurrency units and their ownership.”
- “The system defines whether new cryptocurrency units can be created. If new cryptocurrency units can be created, the system defines the circumstances of their origin and how to determine the ownership of these new units.”
- “Ownership of cryptocurrency units can be proved exclusively cryptographically.”
- “The system allows transactions to be performed in which ownership of the cryptographic units is changed. A transaction statement can only be issued by an entity proving the current ownership of these units.”
- “If two different instructions for changing the ownership of the same cryptographic units are simultaneously entered, the system performs at most one of them.”
Cryptocurrency systems around the globe have burst forth with vitality we have never before witnessed. Lansky may be right when he says that cryptocurrency is forming a futuristic monetary system.
