RM Founders Series - What Is Blockchain, Bitcoin and Ethereum with Qayyum Rajan

In this week's Founder Series episode of Reformed Millennials, Joel Brings back ESG Analytics CEO Qayyum “Q” Rajan, CFA to Talk Crypto.Q isn’t just a ESG company operator interested in crypto, he’s also the proud owner of a Ethereum tattoo on his bicep. To put it mildly, Q is dedicated. Having a very successful exit under his belt with the iComply ICO, we felt like Q was the perfect person to educate the Reformed Millennials listeners.Listen on Apple, Spotify, or Google Podcasts.If you aren’t in the Reformed Millennials Facebook Group join us for daily updates, discussions, and deep dives into the investable trends Millennials should be paying attention to.👉 For specific investment questions or advice contact Joel @ Gold Investment Management.🌚Crypto Basics🌞Understanding the Crypto space isn’t for the faint of heart. And to those who think its nothing more than Tulips 2.0, I think this podcast is great place to start your journey to enlightenment.Some writing from Q on Crypto here and hereNFTs, Bitcoin, Ethereum, Cardano, Blockchain, DAO, Decentralization, ICO, Virtual Tokens, Miners, Crypto, Dogecoin… The list is exhausting!A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It doesn’t exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.How the Blockchain Works:A blockchain is a continuously growing list of records, called blocks, which are linked and secured 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.Proof Of Work:Proof-of-work cryptocurrencies, such as bitcoin, offer block rewards incentives for miners. See how below.If you want to learn how to buy, store and trade crypto start here - Beginners Guide💡Reformed Millennials Crypto Library📚Podcasts:Invest like the Best Episode 57 - Hash Power Episode 2Invest like the Best Episode 58 - Hash Power Episode 3Books:The Sovereign Individual: Mastering the Transition to the Information AgeNostalgia for the AbsoluteEric Hoffer: The True Believer: Thoughts on the Nature of Mass MovementsArticles:Bitcoin: A Peer-to-Peer Electronic Cash SystemThe Bitcoin Model for CrowdfundingFat ProtocolsWHAT THE F*** IS BLOCKCHAINOther:SHA-256 CalculatorAll information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For our full disclosures and disclaimer, visit our website: https://gold-im.com/disclaimer/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit reformedmillennials.substack.com