Challenge of the Week - read the bitcoin and one altcoin whitepaper

in #bitcoin7 years ago

This week's challenge is, to question what you know about cryptocurrencies and study the original bitcoin whitepaper (https://bitcoin.org/bitcoin.pdf) as well as one whitepaper from an altcoin that is interesting (e.g. the steem whitepaper: https://steem.io/SteemWhitePaper.pdf).

Finding the answer to the following questions might help on the way to understanding cryptocurrencies:

  1. what is the main difference between this altcoin and bitcoin?
  2. how is anonymity handled in both implementations?
  3. what role does decentralization play?
  4. what is the main purpose of the altcoin in comparison to bitcoin?
  5. why is it necessary to use the blockchain for bitcoin and the altcoin?

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