Technology behind Cryptocurrencies

Živimo u svijetu transformacija koje utječu na svaki aspekt onoga što činimo pa tako i na način na koji trošimo novac. Unazad nekoliko godina, kriptovalute postale su globalni fenomen. Ljudi se najčešće po prvi puta susreću s pojmom kriptovaluta kroz medije i to Bitcoinom kao prvom kriptovalutom u povijesti. Iako je prije Bitcoina postojalo i drugih digitalnih oblika novca, Bitcoin je prvi digitalni oblik novca koji za prijenos vrijednosti koristi kriptografske algoritme, odnosno konačan niz svrhovitih uputa koje u određenom broju iteracija dovode do rješenja (npr. kreiranje bitcoin adrese). Kontekst spominjanja kriptovaluta najčešće je ekonomske prirode, pri čemu ljudi najčešće ostanu zadivljeni njegovom protuvrijednošću u nekoj drugoj valuti. Neke od manje spominjanih kriptovaluta koje još nazivamo i altcoinima su: Litecoin, Dogecoin, Namecoin i Peercoin. Ono što ljudi manje znaju po pitanju kriptovaluta je otkuda potječe ideja o kriptovalutama te kako funkcionira tehnologija iza njih. Upravo vizija financijske decentralizacije te funkcioniranje Blockchain tehnologije bit će detaljnije objašnjeni u ovome radu na temelju funkcioniranja Bitcoin tehnologije.We live in the world of transformations, which affects every aspect of what we do, therefore also on the way we spend money. Cryptocurrencies are becoming a global phenomenon. Usually people confront with the conept of cryptocurrencies through the media, especially with Bitcoin as the first cryptocurrency in the history. Although there were other digital forms of currencies before Bitcoin, Bitcoin is the first digital form of money that uses cryptographic algorithms (a final set of purposeful instructions that leads to solution through numoreous iterations ) for money transfers (eg. the process of creating a bitcoin adress). When people talk about cryptocurrencies, the talk is usually of an economic nature – surprised by its value in another currency. Some of the less mentioned cryptocurrencies, which are called Altcoins, are: Litecoin, Dogecoin, Namecoin and Peercoin. What is less known about cryptocurrencies is the origin of the idea behind cryptocurrencies and how the technology behind them operates. Therefore, the vision of financial decentralization and the way Blockchain technology functions will be explained further in this paper, based on the Bitcoin technology structure