It's 2018. Times are changing. You know about Bitcoins, or at least have heard the term. It is one of the many Crypto Currencies now on the market.
According to Wikipedia: A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets
From Britannica.com: Cryptology. Cryptology, science concerned with data communication and storage in secure and usually secret form. It encompasses both cryptography and cryptanalysis. The term cryptology is derived from the Greek kryptós (“hidden”) and lógos (“word”).
This is the field my nephew works in. He has set up what are called mining rigs, shown below, and he mines. According to him, "People call it "mining" but it is actually verifying transactions for the currency you are mining". He doesn't mine bitcoins but does mine ethereum which is one of many of the crypto currencies.
The Webopedia definition: Cryptocurrency mining, or cryptomining, is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. ... In order to be competitive with other cryptominers, though, a cryptocurrency miner needs a computer with specialized hardware.
This is the way of the future. I doubt if I will every become a miner but I may eventually become a user. I am trying hard to understand it. I have just sat through the video below and will have to do it again another time or two before I understand it. If you are interested in how this currency works, here is an introductory video. It takes about 30 minutes so sit back and absorb.
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