[Georgia Tea Party - Volunteer Meeting] Topic: Cryptocurrency and Blockchain
Speaker: Nathan Porter
When: Thursday, March 22, 2018
Time: 7pm – 9pm
Where: Cobb County Republican Party Headquarters, 799 Roswell St NE, Marietta, GA 30060
Cryptocurrency - A cryptocurrency(or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger. Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous other crypto currencies have been created. These are frequently called altcoins, as a blend of alternative coin.
Blockchain - A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured simultaneously using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. "For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, such as identity management, transaction processing, documenting provenance, food traceability or voting. The first blockchain was conceptualized in 2008 by an anonymous person or group known as Satoshi Nakamoto and implemented in 2009 as a core component of bitcoin where it serves as the public ledger for all transactions. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.
1: It is Georgia Tea Party policy to be courteous to all guest speakers.
2: The Georgia Tea Party does not endorse or oppose candidates or parties..
3: Georgia Tea Party is not affiliated with the Republican Party.
4: Cobb GOP has generously offered the space.
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