Inflation is the rise in the general level of prices. This is equivalent to a fall in the value or purchasing power of money. It is the opposite of deflation. Measuring inflation Inflation is measured by observing the changes in prices of goods in the economy using econometric techniques. The rises in prices of the various goods are combined to give a price…
A block chain is a distributed data store that maintains a continuously growing list of data records that are hardened against tampering and revision, even by operators of the data store’s nodes. The most widely known application of a block chain is the public ledger of transactions for cryptocurrencies, such as bitcoin. This record is enforced cryptographically and hosted on machines running the software. The technology forms…
Hashcash is a proof-of-work system designed to limit email spam and denial of service attacks. It was proposed in March 1997 by Adam Back . How it works A sender of non-spam email attaches a header line to his email which proves that he has invested a modest amount of computer time into solving a small puzzle involving the recipient’s email address. The receiver can, at negligible computational cost,…
Crowd funding (sometimes called crowd financing or crowd sourced capital), inspired by crowdsourcing, describes the collective cooperation, attention and trust by people who network and pool their money together, usually via the Internet, in order to support efforts initiated by other people or organizations. Crowdfunding occurs for any variety of purposes, from disaster relief to citizen journalism to artists seeking…