Primary post: It is well known that the  key innovation of crypto-currency (such as Bitcoin, Ethereum) is distributed consensus protocol .  It is also clear that crypto-currency is changing the future of business.  Do your own research and reference at least 2 articles related to this topic.  Primary post  : Write a post (300-500 words) on the discussion forum (Click "Add new discussion" to start) to summarize your research. In your summary: Identify and briefly describe TWO distributed consensus protocols State clearly in what way do you foresee that crypto-currency is change the future of business. Secondary post  : Respond to exact TWO (2) other postings. If there are more than two secondary posts, the two post that you submitted will be graded. Your secondary post should be: 150-200 words Answer to another student's question to your own post Comment to your original post First reply: Post selected One of the greatest breakthroughs in Monetary technology is that the innovation of Cryptocurrency. Whereas there has been plenty of buzz around cryptocurrency, there’s disproportionately less clarity on what it extremely is. Cryptocurrencies square measure the way of liberating the finance system from banks that sometimes unsuccessful, by creating it clear. They allow all transactions to be verified on a public ledger. Cryptocurrency:             Cryptocurrency could be a digital or virtual currency that uses cryptography for security. A cryptocurrency is troublesome to counterfeit owing to this security feature. A process feature of a cryptocurrency and arguably its most lovely attract, is its organic nature; it’s not issued by any central authority, rendering it on paper resistant to government interference or manipulation. It is created and stored electronically which can only be saved in computers or websites. These transactions are facilitated through use of private and public keys for security purpose. All cryptocurrencies will have following common characteristics: Digital, Decentralized, Independence, Cryptographic, Identity and Transaction Verification. Some of the Cryptocurrencies : Bitcoin was the foremost invented cryptocurrency in 2009, Ethereum, Litecoin, Namecoin, PeerCoin, Ripple, Primecoin, Auroracoin etc. Advantages: The usage of crypto currency is fast, cheap and there are no charge backs. People cannot steal information from merchants and its as private as you wanted to be. Its usage is easy and fat payment without using the credit card or sign any document, we just need to know the address of person or organization to whom one has to transfer money, payment processing is very fast. It also ensures that transactions are secure. There are no processing charges to complete the transaction. Disadvantages : Main disadvantage is it is not widely accepted like in physical stores instead of real money. It cannot be retrieved like traditional/physical money if we lose the digital currency information (information saved in laptops.

1. Primary post:
It is well known that the
key innovation of crypto-currency (such as Bitcoin, Ethereum)
is distributed consensus protocol
.
It is also clear that crypto-currency is changing the future of
business.
Do your own research and reference at least 2 articles related
to this topic.
Primary post
: Write a post (300-500 words) on the discussion forum
(Click "Add new discussion" to start) to summarize your
research. In your summary:
Identify and briefly describe TWO distributed consensus
protocols
State clearly in what way do you foresee that crypto-currency is
change the future of business.
Secondary post
: Respond to exact TWO (2) other postings. If there are more
than two secondary posts, the two post that you submitted will
be graded. Your secondary post should be:
150-200 words
Answer to another student's question to your own post
Comment to your original post
First reply:
Post selected
One of the greatest breakthroughs in Monetary technology is
that the innovation of Cryptocurrency. Whereas there has been
plenty of buzz around cryptocurrency, there’s
disproportionately less clarity on what it extremely is.
Cryptocurrencies square measure the way of liberating the
finance system from banks that sometimes unsuccessful, by
creating it clear. They allow all transactions to be verified on a

2. public ledger.
Cryptocurrency:
Cryptocurrency could be a digital or virtual currency
that uses cryptography for security. A cryptocurrency is
troublesome to counterfeit owing to this security feature. A
process feature of a cryptocurrency and arguably its most lovely
attract, is its organic nature; it’s not issued by any central
authority, rendering it on paper resistant to government
interference or manipulation. It is created and stored
electronically which can only be saved in computers or
websites. These transactions are facilitated through use of
private and public keys for security purpose. All
cryptocurrencies will have following common characteristics:
Digital, Decentralized, Independence, Cryptographic, Identity
and Transaction Verification.
Some of the Cryptocurrencies
: Bitcoin was the foremost invented cryptocurrency in 2009,
Ethereum, Litecoin, Namecoin, PeerCoin, Ripple, Primecoin,
Auroracoin etc.
Advantages:
The usage of crypto currency is fast, cheap and there are no
charge backs. People cannot steal information from merchants
and its as private as you wanted to be. Its usage is easy and fat
payment without using the credit card or sign any document, we
just need to know the address of person or organization to
whom one has to transfer money, payment processing is very
fast. It also ensures that transactions are secure. There are no
processing charges to complete the transaction.
Disadvantages
:
Main disadvantage is it is not widely accepted like in physical
stores instead of real money. It cannot be retrieved like
traditional/physical money if we lose the digital currency
information (information saved in laptops/phones and if we lose
them), it will be wasted that no one can use it. There is also no
refund policy in digital currency thought we make the

3. transaction by mistake.
Cryptocurrency is changing the future of Business:
The cryptocurrency could be a terribly straight forward
method of transferring price from one person to other. Once the
personal key code has been entered the Bitcoin price is
transferred to another address. One of the catalysts behind the
creation of Bitcoin was the need to work during a currency that
would not be controlled by any central authority. Bitcoin could
be a paperless, bank-less, state-less currency that permits
individuals to pay directly for merchandise and services. The
coins themselves square measure created by computers
resolution a group of complicated scientific discipline issues
and other people who use their computers to form coins and
record transactions square measure known as miners. The
protection for these cryptocurrencies square measure provided
by the algorithms engineered with within the currency. It’s the
primary cryptocurrency created by the cluster of developers
beneath the name ‘Satoshi Nakamoto’. All Bitcoins in
circulation and their transactions, histories square measure
recorded during a large ledger referred to as the blockchain.
This prevents every Bitcoin from being spent double. Digital
copy is one among the protection options of the Bitcoin
platform that was enforced so as to tackle the matter of double
disbursement.
Cryptocurrency may be a developing technology, it will
want years and years of exposure to the world system, before
the plenty begin accepting it. There square measure invariably
pros and cons to any state of affairs in life. To be ready to build
an honest call, you wish to weigh the nice and unhealthy totally
before finalizing the selection. With cryptocurrency, its
additional concerning mass acceptance than technology. The
technology is here, given its recent issues their square measure
doubts on whether or not Bitcoin and its contemporaries will
become fully-fledged currencies. It’s unlikely that the master
card faces associate close threat to its dominant position in
online payments. However, notwithstanding Bitcoin itself

4. doesn’t become the web of cash, its technology might offer the
platform for future online payments system. One chance is that
these can be developed through the key banks, and JP Morgan
has recently filed a patent for a web payments system with
Bitcoin characteristics. But with the event and adoption of all
internet-based technologies, solely time can tell once the
remainder of the planet (citizens, government) can say YES!
Ethereum:
Ethereum is presently second widely used cryptocurrency. Its
platform could be a blockchain based suburbanized virtual
machine known as the Ethereum Virtual machine(EVM), within
which folks will produce suburbanized applications. In the
platforms like social networking systems that offer power to
users, online vote and distributed governance tools and even
totally clear monetary applications is created. Resources in it
square measure got in Ether.
reply
Second reply:
Post selected
In ancient days before the evolution of currency, bartering
system was in place which was a trade in process exchanging
goods. Later Minted currency came into existence which is
nothing but the combination of silver and gold printed with the
faces of the currency value. Now as the technology dominated
everything there are new forms of currencies available in the
market which is our Crypto currency.
“Crypto currency” is more popular nowadays as it has number
of controversial views in the business market. It is often known
as cyber money or digital money. The currency is generally
generated and protected by the central bank where as crypto
currency is not. The most popular one in this crypto currency is
Bitcoin. The security for these crypto currencies are provided
by the algorithms built with in the currency. It is the first crypto
currency created by the group of developers under the name
Satoshi Nakamoto and the current share value of the currency is

5. $3.069. Each Bitcoin has a unique key which make it different
from another. The transaction of each Bitcoin is noted in to the
database called as ‘Block chain’.
Bitcoin has both pros and cons. Bitcoin secures from the
instability of the economy of the country. The confidential
tractions are usually hidden using the Bitcoin currency which
cannot be tracked. Users are the control of their money and
there are usually no extra fees during the transactions.
Everything is hidden in the crypto currencies there is no chance
of the theft and easily can be backed up and encrypted to
provide security to each transaction. The digital money helps to
convert the Bitcoin currency to the normal currency where there
are no more extra fees for them to convert. But as discussed
every coin has other side the crypto currency is no exceptional.
The main drawback in this is not accepted as the official
currency till date. The users can purchase the Bitcoin and can
be moved and sold in their foreign currency but not every
country has the same rules. The database known as block chain
has problem with the payment platform which cannot cover the
world’s commerce. The value of the Bitcoin is volatile some
day with the increase in the demand sometimes or the creation
of the other crypto currencies such as Ethereum.
As the market of the Bitcoin has getting stabilized a newer
currency got in to the market which is Ethereum which has no
similarity with the Bitcoin and has a newer application which ha
the full potential over the block chain and also has the full track
of the transactions beyond the Bitcoin. Ethereum with this plus
as attracted finance and technology industries like J.P Morgan
Chase, IBM, Microsoft.
As per my research the crypto currencies which might be
Bitcoin or Ethereum both are volatile which is difficult to
predict the future of those but the crypto currency is sure to
change the business as the most beneficial part of it was the
independence from the traditional or the financial banks for
their fees and the regulations which is a way for the crypto
currencies to enter and change the market. This digital currency

6. has no fees and also the scariest part of the financial institutions
is the security which is provided by the digital currency. As this
technology is still newer to understand which needs time and
education but it is changing in the future of the payments which
we will be seeing in future.
reply