What is cryptocurrency, How is cryptocurrency different

What is cryptocurrency

Assignment Help Microeconomics

Reference no: EM133843266

Assignment:

Typer Delfino Singpf Mini-Unit What is Cryptocurrency?

Student Activity Packet MINI-UNIT: CRYPTOCURRENCY

Part 1: PROMPT: Edubucks Scenario Read the scenario on the linked slides and use the situation to answer these questions. Currency is a medium of exchange for goods and services. Are Edubucks a form of currency? Explain your reasoning.

2. Edubucks are made by photocopying play money on a copy machine. Even though they are just paper, they are valuable within your classroom. Where does this value come from?

3. What would determine the value of Edubucks?

Part 2: FINCAP FRIDAY: FinCap Friday: Bitcoin Bonanza You may have heard about Bitcoin and other cryptocurrencies. After watching the video, use this space to write a summary of what you know about cryptocurrencies and/or what questions you have about them.

Part 3: VIDEO: Cryptocurrency Explained

1. How is cryptocurrency different from government issued currency?

2. How is a transaction verified on a cryptocurrency network?

Part 4: VIDEO: How Does a Blockchain Work The technology that allows cryptocurrency to work is called blockchain technology. Watch the video that explains how the blockchain works. Then, answer the questions.

1. Explain how individual blocks of information form a chain.

2. Along with chaining together blocks of data using hashes, what two other features help blockchain remain secure?

Reference no: EM133843266

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