Understanding the world · Environment & the future

How do blockchain and cryptocurrencies work?

An account book that nobody owns, and that thousands of computers keep watch over together.

Since 20093 min read5 partsQuiz of 9 questions
Read in the app Available in 30 languages
Montymetzger · Monty Metzger (CEO at LCX) Keynote Speaker at Blockchain Conference Dubai 2024 · CC0 · Wikimedia Commons
Part 1 of 5 · freeIntroduction

Imagine an account book that nobody owns alone, kept up to date at the same moment by thousands of computers all over the world, and almost impossible to forge. That is the starting idea of the blockchain, a technology often reduced to its first application, Bitcoin.

By letting people exchange value without going through a bank, this invention created a whole parallel economy, caught between promises of financial freedom and harsh criticism of its energy bill.

The rest is in the Sophia app.The remaining parts, the open-book quiz and the full glossary. Free to start; Premium unlocks everything.
  1. 2A ledger that nobody controls alone
  2. 3Bitcoin and Ethereum: from payment to program
  3. 4The criticisms: energy and instability
  4. 5Toward institutional integration
Open-book quiz9 questions whose answers are in the text.
Glossary7 terms explained in a tap.
30 languagesThe same course, from French to Japanese.