The Evolution of Blockchain and Cryptocurrencies

This chapter explores the transformative potential of blockchain technology on the financial system, paralleling its evolution with the early days of the Internet. It critiques traditional banking, emphasizing the advantages of cryptocurrencies in terms of transaction speed and inclusivity, while also addressing the challenges of slow adoption. Additionally, the chapter analyzes Bitcoin's trust model and vulnerabilities, particularly against risks like double spend attacks, highlighting the ongoing limitations in comparing its efficiency to conventional payment networks.