07:19:03 27/04/2018

ICON Digital Networks News

Digital Asset Properties

By Admin

Posted On Friday, 11-Jan-2019 16:30:22 UTC

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  • Revolutionary Property – A revolutionary invention. A digital currency that runs on a decentralized peer-to-peer network. Secured by strong cryptography and math, and not by people or trust.
  • Transactional Property – Cryptocurrency transactions are unique. It is immutable and cannot be changed unless certain conditions are fulfilled.
    • Permissionless – You don’t need to ask permission from anybody to use cryptocurrency, mine, or even download necessary programs to run a node. It doesn’t need a permission from central banks or governments.
    • Anonymous – The only thing you will need in order to trade crypto to another is a public key or an address. It is either from a QR code or a string of random numbers and letters. It is impossible to connect real-world identities to the addresses*.
    • Fast and Global – You can transfer bitcoin or any crypto to anybody in the world in just a couple of minutes without the need of using a bank or other means. It runs on a network of computers and wouldn’t matter if you will transfer crypto to your neighbor or to the other parts of the world.
    • Secure – Cryptocurrency funds are locked using a strong cryptography system. Even though a user’s public key is out in the open, it can only be unlocked with his private key.
    • Irreversible – Every transaction is irreversible. If you send it to the wrong address, there is no stopping it. There is no safety net and no one can reverse the transfer for you.

  • Stay tuned and and read more news here on our blog