Cryptocurrency has been around for over a decade, and during that time, it has grown in popularity and value. Despite this, there are still many who don’t understand what cryptocurrency is or recognize its importance. In this article we will cover Dan Schatt and Domenic Carosa, executives of DeFi startup Earnity and cryptocurrencies are innovations that need the public’s attention.
Three Absolute Features
Proponents and developers don’t always share the same definition of cryptocurrency. However, there are three absolute features of cryptocurrency. First, crypto uses cryptography, which ensures information and communications. Second, transparency is the main character and purpose of cryptocurrency.
A chunk of the protocols crypto uses is established on open source, intended for modification and redistribution. In addition, each crypto transaction has a timestamp, creating a public origin or chronology of custody of the digital assets. Third, crypto protocols are developed with game theory in mind to ensure every user performs in a manner that maintains the system. Incentives are given to miners who make an effort and put power into verifying crypto transactions.
The Potential to Disrupt the Industry
As Earnity executives Dan Schatt and Domenic Carosa want the public must pay more attention to cryptocurrency now than before, as financial services are updated by the minute. This type of finance encourages self-sovereignty and aims to foster a democratic and inclusive community for everyone. While it may not be apparent, many large financial institutions and companies build partnerships with crypto providers.
When first considering crypto, one must remember that it is a form of currency that has been around for over a decade. It may not be at its peak or best shape yet, but it carries the potential to disrupt the global financial system. Cryptocurrency has created a fundamental change in how people perceive money—the way individuals sell, purchase, and purchase assets.
