Crypto 101

Who should I follow to learn more?

Why is Boost VC interested in Crypto?

Boost VC believes blockchain technology is one of the largest technological breakthroughs in the past 20 years. In the simplest explanation, the blockchain finally allows parties that don't trust each other to send something across an unsecure network (i.e. the internet) without relying on a third party for trust. Blockchains allow for true transparency, individual sovereignty and programmable money/contracts in a way we have never seen before. The last decade saw the rise of Bitcoin as a truly decentralized store of value, then Ethereum brought decentralized contracts to the world and now the water hose of new cryptocurrencies and tokens are experimenting with all the possibilities blockchain can be used for.

We believe this so firmly, that we became the first institutional Bitcoin fund in 2012 and pledged to fund 100+ bitcoin companies before there were even 20 in the world.


What is the blockchain?

In general, a blockchain can be defined as a system in which transactions are gathered in blocks secured together in a chain using cryptography, which is designed to be tamper-resistant and produce immutable records.

In simpler terms, the blockchain solves what is known as the 'double spend problem' of digital assets. Transferring money digitally has always been an issue, because users could theoretically copy the raw code representing the digital money and duplicate it to their heart's content. The blockchain solves this problem by ensuring each piece of raw code representing digital money cannot be duplicated.

 
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What is Bitcoin?

Bitcoin is the first technology to be built using the blockchain, and generally refers to the digital token which is traded using the Bitcoin blockchain.

Bitcoin the digital token is a digital asset that can be held in virtual wallets and traded with other users. This is what people refer to when discussing Bitcoin's often fluctuating price.

Bitcoin the blockchain is the underlying payment network system built that enables users to trade Bitcoin the digital token in a secure way.

Bitcoin was released in 2009 by an unknown person (or group of people) using the name Satoshi Nakamoto. 

More information can be found at the following sites:

How can I get started?

Coinbase (a Boost VC company) is a great place for early users to buy and sell their first Bitcoin, Ethereum or Litecoin.

How does the blockchain work?

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What is Ethereum?

Ethereum is a smart contract platform built using blockchain technology. A smart contract is a way to digitally facilitate, verify and enforce an agreement between two or more parties.

While Bitcoin is generally viewed as a currency and a way to store of value, Ethereum is designed to be a platform on which developers can build new applications (called decentralized applications or DApps).

Ethereum users purchase Ether (Ethereum's cryptocurrency) in order to store and execute contracts on the Ethereum blockchain network.

Ethereum was first proposed by Vitalik Buterin in late 2013.

More information can be found at the following site: