DOIAbstract
The article provides a general overview of blockchain technology and its influence on cryptocurrency development. It is based on asymmetric cryptology, peer-to-peer technology, hash functions, consensus mechanism, and smart contracts. Since 2008, when Satoshi Nakamoto published online the Bitcoin blueprint, cryptocurrency market has grown. There are more than 1000 cryptocurrencies now (e.g. Ethereum, Dogecoin, Monero), as well as many stock exchange markets, exchange offices and bitcoin cash machines. It is also possible to “mine” cryptocurrencies by yourself, however special hardware solutions are required. The author claims that cryptocurrency has redefined the way of thinking and viewing the concept of money, and it will expand even furt...
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