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Cryptocurrencies have been dominating headlines and expanding the product set as the original, Bitcoin, has been joined by new entrants into the field. Businesses are taking notice from the standpoint of both their balance sheets and their payment processes. And even the Federal Reserve is now talking about crypto. Should it be a part of investor portfolios?
Before we can answer that question, let’s spend some time understanding what crypto is, how it works, and what the current thinking is.
Cryptocurrency is a digital currency that can be used to purchase goods and services online. It uses a technology called blockchain that is essentially a database. Instead of storing data in tables, blockchain stores data in blocks, which are then chained together. While blockchain can be used for many things, Bitcoin, the largest cryptocurrency by value, uses blockchain in an interesting way that illuminates some of the basics about crypto.... ...
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