From shells to crypto, a brief evolution!

For my first post I wanted to give a basic and brief overview on the evolution of money, from shells to cryptocurrency.

So here goes :)...

Currency

Prior to 9000 BC currency exchange took the form of a bartering system. This then evolved into exchanging metal objects around 5000 BC, and refined bronze objects around 1000 BC. By 500 BC various nations were minting their own coins using various metals, including gold, silver and bronze. The first examples of bank notes emerged in China in 118 BC, and paper currency in Europe by the year 900. By 1958 American Express issued the first credit card. During late 2008 Satoshi Nakamoto published the Bitcoin whitepaper, while Vitalik Buterin created Ethereum in 2014.

Blockchain

Blockchain is a decentralised replicated database. It is a public ledger, a list of all transactions which have occured. It is also the revolutionary technology behind cryptocurrency. Blockchain allows for open, borderless, neutral, decentralised and censorship resistant use-cases. Aside from the cryptocurrency use-cases, blockchain also enables decentralised, persistent, immutable and trustworthy computing at scale. This is what Ethereum allows through its smart contracts. Contracts can be programmed to self-execute based on certain conditions being met. Other applications of blockchain include registering ownership of assets such as land titles, and tracking goods in a supply chain such as food items.

Cryptocurrency

Cryptocurrency is digital or virtual currency, it is entries in a database which cannot be altered unless very specific conditions are met. Cryptocurrencies are irreversible, pseudonymous (some are fully anonymous), borderless, fast, secure and permissionless.

I recommend a visit to the following site when you are ready to delve into the technical details:

https://bitcoinedge.org/tutorials

Good luck on your journey.