turkmath.org

After an anonymous writer using the alias Satoshi Nakamoto described the concept of a cryptocurrency called Bitcoin in 2008, the world begun to talk about the existence of a new international currency. While in the beginning it was only studied and adopted as a currency, the underlying revolutionary Blockchain technology was later noticed. Blockchain technology has become remarkable due to its role in transforming centralized (trusted) systems into decentralized systems. Therefore, it has potential to eliminate the single point of failure in terms of availability and to reduce the risk to the centralized trusted parties of being coerced to compromise privacy. Today, the total number of cryptocurrencies is more than 1000 and their market capitalization has today more than $ 500 billion. Despite the fact that it has not yet proven itself fully to be used on a large scale especially in the banking system, intensive studies have been made in terms of scalability and interoperability. This talk will be about the key benefits of this technology, the future aspects of the cryptocurrencies, and the underlying advanced cryptographic mechanisms for achieving privacy.