Cryptocurrency, Bitcoin, Johnston discussed on Download This Show
Our in studio with ride Johnston and taking Jones mock Fidelis my name and changing the tone in Tyler. Cryptocurrency, stay with me. It's boring. Confusing. But today, I have cryptocurrency direct from the land of ho- quotes. There is I strange new coin that is a Harry Potter themed cryptocurrency, and I couldn't talk about. Introduced me to green take the Shaw's. Unlike some other, let's say colorful, cryptocurrencies like selfie coin and pizza coin. The actually seems to be some good potentially associated with grain. Sorry. It actually comes off the back of an even more ludicrously named in code mimbo. Mimbo wimbledon. Which is actually the blockchain system that grin will live on. Sorry. It's cold mimbo b. The land of how he put that is a spell that one can use to silence people, which is good. If you won't to them from slinging spells at your now. Stay with me the connection here is privacy mock privacy, the idea of calling this mimbo is that a lot of blockchain blockchain currency such as bitcoin on actually as private as what people think they are even there. You're identifier is a string of numbers and lettuce earn as an address agencies can actually start to decrypt that fund out who you are and track all of your transactions. So the point of mimbo is to make that not happen. It's meant to be undecipherable silencing the blockchain. So this means you can't tell if I'm a dementia or a muggle shoal show. Mock thank you going on this that. So in terms mimbo is is the environment in which green will. Anything distinguishes grin as a currency from Cy. Bitcoin or a theory or anything of that night show. Yes. Just like to explain it. As though I am you'll grandparent because show genuinely speaking when it comes to cryptocurrency. I am confused then the main salsa difference actually is the blockchain itself, it's mimbo will than grandma one things that people a client of not happy about with potential of green is that there is no Kathleen it on like with bitcoin with as twenty five million coins actually on the blockchain, but what's interesting about it isn't so much the crypt or it's the blockchain itself. So mimbo the privacy aspect around it that it'll be untraceable allegedly. But almost more importantly is that there are already they're already cryptocurrencies do this Zad cash, for example, but they know private and then grain that's the other thing about this is that one of the biggest issues around bitcoin and a lot of blockchain. Cryptocurrency is that it uses an immense amount of Dada to verify..