What is Crypto?

Crypto is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Crypto is pretty much like cash for the Internet. Crypto can also be seen as the most prominent triple entry bookkeeping system in existence.

Who created Crypto?

Crypto is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Crypto specification and proof of concept was published in 2009 in a cryptography mailing list.

From there, we generally start working on visual concepts that can make that vision more tangible. Our stakeholders are often editors with strong points of view on design and layout—and they love to edit whatever we come up with! Their perspective can give us essential focus as we move into development.

Who controls the Crypto network?

Nobody owns the Crypto network much like no one owns the technology behind email. Crypto is controlled by all Crypto users around the world. While developers are improving the software, they can't force a change in the Crypto protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Crypto can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

How does Crypto work?

From a user perspective, Crypto is nothing more than a mobile app or computer program that provides a personal Crypto wallet and allows a user to send and receive Cryptos with them. This is how Crypto works for most users. Behind the scenes, the Crypto network is sharing a public ledger called the "block chain".

How does one acquire crypto?

While it may be possible to find individuals who wish to sell crypto in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods. This is due to cases where someone buys crypto with PayPal, and then reverses their half of the transaction. This is commonly referred to as a chargeback

• As payment for goods or services.
• Purchase crypto at a Crypto exchange.
• Exchange crypto with someone near you.

Is Crypto vulnerable to quantum computing?

Yes, most systems relying on cryptography in general are, including traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Crypto, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all Crypto users.