Introducing Cryptocurrency: October 2017
Introducing Cryptocurrency: October 2017
Introducing Cryptocurrency: October 2017
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INTRODUCING CRYPTOCURRENCY
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between Bitcoin, Forex, and Gold”. NewsBTC. Retrieved 15 September “Around the same time, Nisc Szabo, a computer scientist who now blogs
2015. about law and the history of money, was one of the first to imagine a new
6 Allison, Ian (8 September 2015). “If Banks Want Benefits of Blockchains, digital currency from the ground up. Although many consider his scheme,
They Must Go Permissionless”. NewsBTC. Retrieved 15 September 2015. which he calls “bit gold”, to be a precursor to Bitcoin”.
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Alexander Victor Okhuese INTRODUCING CRYPTOCURRENCY READS Capital, Schemas Group
an electronic currency system which required users to Satoshi Gallery
complete a proof of work function with solutions being
cryptographically put together and published. A currency Valentina Picozzi brought cryptocurrency to the masses
system based on a reusable proof of work was later with Satoshi Gallery, a collection of crypto infused images
created by Hal Finney who followed the work of Dai and and wearable. He opined that “Bitcoin needed art” and
Szabo. hence he created Satoshi Gallery. This Gallery includes
images of the most expensive slice of pizza, dollar bills
The first decentralized cryptocurrency, bitcoin, was saying “oh no”, and an iconographic landscape of the other
created in 2009 by pseudonymous developer Satoshi crypto-related subjects.
Nakamoto. It used SHA-256, a cryptographic hash function,
as its proof-of-work scheme.12 In April Art for Crypto
2011, Namecoin was created as an attempt at forming a
decentralized Domain Name Servers (DNS), which would Vesa Kivinen, the founder of Artevo Contemporary started
make internet censorship very difficult. Soon after, in a new cryptocurrency infused platform called
October 2011, Litecoin was released. It was the first
ArtForCrypto.com. His work used various mediums such
successful cryptocurrency to use script as its hash function
instead of SHA-256. Another notable as digital photography mixed with oil and canvas
cryptocurrency, Peercoin was the first to use a proof-of- paintings. The paintings consisted of visual depictions of
work/proof-of-stake hybrid.13 IOTA (Distributed Ledger the bull and bear, Satoshi Nakamoto, and one called the
Technology) was the first cryptocurrency not based on a split among many others.
blockchain, and instead uses the Tangle. 14 Many other
cryptocurrencies have been created though few have been Phneep
successful, as they have brought little in the way of
technical innovation.15 On 6 August 2014, the UK Phneep is a crypto-artist and very good in pixel blending
announced its Treasury had been commissioned to do a as he is known for manipulating movie covers, logos, and
study of cryptocurrencies, and what role, if any, they can other images from pop-culture with bitcoin-related
play in the UK economy. The study was also to report on
imagery. After joining bitcoin in 2012, he decided to focus
whether regulation should be considered.16
on bitcoin satire in 2014 as he wanted to contribute to the
The evolution of cryptocurrency memes, and bitcoin crypto-ecosystem, although he had coding limitations.
street art 17
Friends of Satoshi
Block Bills
This is a resource for bitcoin artists and creators that aim
Matthias Dorfelt created a type of physical bitcoin that to empower a decentralized collective of individuals. The
looks similar to the fiat money. He used the hashes fro 64 team created a Zimnote series that consist of ten notes
random blocks and turns them into an eccentric design hand painted or drawn. Each note contains a fractional
that was created by his own software. He further created amount of bitcoin, and only four notes were publicly
his own symbols for the hexadecimal numbers that he released.
used along the bottom of every bill. Dorfelt acknowledged
the work of Satoshi where he created the bill with codes Cryptograffi
except the signature of the name of “Satoshi” on the bill
where he used the number of transfers stored in each As an early bitcoin adopter, Cryptograffi was the first artist
block to tell the worth of each bill. to utilize a public-facing cryptocurrency wallet to receive
donations for street art. His work has been seen all over
the crypto-circuit, shared by luminaries, and featured in
12 Jerry Brito and Andrea Castillo (2013). “Bitcoin: A Primer for online publications.
Policymakers”. Mercatus Center. George Mason University. Retrieved 22
October 2013.
13 Wary of Bitcoin? A guide to some other cryptocurrencies, ars tecnica, Conclusion
26-05-2013
14 Sonstebo, David (2016). “IOTA First Chapter Synopsis”.
Cryptocurrency has come to stay and bitcoin and the
15 Are Any Altcoins Currently Useful? No, Says Monero developer
Riccardo Spagni”. Bitcoin Magazines. Retrieved 31 May 2016. altcoins are the definitely the way forward to eliminate fist
16 UK Launches initiative to explore potential of virtual currencies”. The
money and go digital with payment systems in the world.
UK News. Retrieved 8 August 2014.
17 Jamie Redman (2017). “The Evolution of Cryptocurrency Visuals,