1.5.7
Digital Currency
Digital Currency
Digital Currency
A digital currency is a recently popular form of money that exists only electronically, unlike coins or banknotes.
What is digital currency?
What is digital currency?
- Digital currencies are money that exists electronically, without a physical form.
- Examples include cryptocurrencies like Bitcoin, Ethereum, Central Bank Digital Currencies (CBDCs), as well as digital versions of national currencies.
- They are used to:
- Buy goods and services
- Invest
- Transfer money internationally between individuals or organisations
Features of digital currency
Features of digital currency
- Digital currency is stored in digital wallets on computers or mobile devices.
- Transactions take place over the internet.
- The currency can be sent quickly across the world.
- They are usually more secure than cash (harder to steal physically).
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What is blockchain?
What is blockchain?
- Blockchain is the technology that many digital currencies use to record transactions.
- It is a digital ledger – a shared, public, time-stamped list of all transactions that is spread across many computers.
- Once a transaction is recorded on the blockchain, it cannot be altered.
- Each block of transactions is linked to the one before it → “chain”.
How blockchain works
How blockchain works
- A user requests a transaction (e.g. sending digital currency to someone else).
- The transaction is grouped with other recent transactions into a 'block'.
- Computers on the network solve complex mathematical problems to verify the transaction.
- Once the transaction is deemed legitimate, the new block is added to the end of the existing chain of blocks.
Key features of blockchain
Key features of blockchain
- Security:
- Every block in the chain has a unique code, making it difficult to tamper with.
- If one block is altered, the entire chain after it is invalid.
- Decentralisation:
- The ledger is not stored in a place or controlled by a bank or government.
- It is distributed across many computers, which makes it secure.
- Immutability:
- Once a block is added to the chain, it cannot be changed or deleted.
- This makes the transaction history a permanent record.
1Computer Systems
1.1Data Representation
1.1.1Binary Numbers
1.1.2Negative Binary Numbers
1.1.3Hexadecimal
1.1.4Using Hexadecimal
1.1.5Converting Binary & Hexadecimal
1.1.6Converting Denary & Hexadecimal
1.1.7Capacity
1.1.8Calculating Capacity Requirements
1.1.9Binary in Computer Systems
1.1.10Data Compression
1.1.11Run Length Encoding
1.1.12File Formats
1.2Data Transmission
1.3Hardware
1.3.1Elements of Computer Systems
1.3.2Types of Computer System
1.3.3Von Neumann Architecture
1.3.4The Fetch, Decode, Execute Cycle
1.3.5Factors Affecting CPU Performance
1.3.6Computational Logic
1.3.7Input Devices
1.3.82D & 3D Scanners
1.3.9Code Readers
1.3.10Solid State Storage
1.3.11Magnetic Storage
1.3.12Examples of Magnetic Storage
1.3.13Optical Storage
1.3.14Examples of Optical Storage
1.3.15Types of Optical disk
1.3.16Storage Requirements
1.3.17Translation - Compilers
1.3.18Translation - Interpreters
1.3.19Translation - Assemblers
1.3.20Acoustic Sensors
1.3.21Flow Sensors
1.3.22Gas Sensors
1.3.23Humidity Sensors
1.3.24Infrared Sensors
1.3.25Level Sensors
1.3.26Light Sensors
1.3.27Magnetic Field Sensors
1.3.28Moisture Sensors
1.3.29pH Sensors
1.3.30Pressure Sensors
1.3.31Proximity Sensors
1.3.32Temperature Sensors
1.3.33Network Hardware
1.5The Internet & its Uses
1.6Cyber Security
1.6.1Forms of Attack
1.6.2Penetration Testing
1.6.3Types of Malware
1.6.4How Malware Spreads
1.6.5Protecting Against Malware
1.6.6Information Security
1.6.7Structured Query Language (SQL) Injection
1.6.8Firewalls
1.6.9Authentication: User Access Levels
1.6.10Authentication: Passwords
1.6.11Social Engineering
1.6.12Phishing
1.6.13Denial of Service Attacks
1.7Automated & Emerging Technologies
2Algorithms, Programming & Logic
2.1Algorithm Design & Problem Solving
2.1.1Computational Thinking - Abstraction
2.1.2Computational Thinking - Decomposition
2.1.3Computational Thinking - Algorithmic Thinking
2.1.4Pseudocode
2.1.5Flow Diagrams
2.1.6Interpreting, Correcting & Completing Algorithm
2.1.7Correcting Algorithms
2.1.8Completing Algorithms
2.1.9Testing
2.1.10Types of Testing
2.1.11Test Plans
2.1.12Validation & Sanitation
2.1.13Authentication & Contingencies
2.2Programming
2.2.1Programming Fundamentals - Variables & Constants
2.2.2Programming Fundamentals - Comments
2.2.3Programming Fundamentals - Input & Output
2.2.4Data Types
2.2.5Casting
2.2.6Controlling Program Flow - Sequence
2.2.7Controlling Program Flow - Selection
2.2.8Controlling Program Flow - Iteration
2.2.9Modularity - Subroutines
2.2.10Modularity - Scope
2.2.11Arrays
Jump to other topics
1Computer Systems
1.1Data Representation
1.1.1Binary Numbers
1.1.2Negative Binary Numbers
1.1.3Hexadecimal
1.1.4Using Hexadecimal
1.1.5Converting Binary & Hexadecimal
1.1.6Converting Denary & Hexadecimal
1.1.7Capacity
1.1.8Calculating Capacity Requirements
1.1.9Binary in Computer Systems
1.1.10Data Compression
1.1.11Run Length Encoding
1.1.12File Formats
1.2Data Transmission
1.3Hardware
1.3.1Elements of Computer Systems
1.3.2Types of Computer System
1.3.3Von Neumann Architecture
1.3.4The Fetch, Decode, Execute Cycle
1.3.5Factors Affecting CPU Performance
1.3.6Computational Logic
1.3.7Input Devices
1.3.82D & 3D Scanners
1.3.9Code Readers
1.3.10Solid State Storage
1.3.11Magnetic Storage
1.3.12Examples of Magnetic Storage
1.3.13Optical Storage
1.3.14Examples of Optical Storage
1.3.15Types of Optical disk
1.3.16Storage Requirements
1.3.17Translation - Compilers
1.3.18Translation - Interpreters
1.3.19Translation - Assemblers
1.3.20Acoustic Sensors
1.3.21Flow Sensors
1.3.22Gas Sensors
1.3.23Humidity Sensors
1.3.24Infrared Sensors
1.3.25Level Sensors
1.3.26Light Sensors
1.3.27Magnetic Field Sensors
1.3.28Moisture Sensors
1.3.29pH Sensors
1.3.30Pressure Sensors
1.3.31Proximity Sensors
1.3.32Temperature Sensors
1.3.33Network Hardware
1.5The Internet & its Uses
1.6Cyber Security
1.6.1Forms of Attack
1.6.2Penetration Testing
1.6.3Types of Malware
1.6.4How Malware Spreads
1.6.5Protecting Against Malware
1.6.6Information Security
1.6.7Structured Query Language (SQL) Injection
1.6.8Firewalls
1.6.9Authentication: User Access Levels
1.6.10Authentication: Passwords
1.6.11Social Engineering
1.6.12Phishing
1.6.13Denial of Service Attacks
1.7Automated & Emerging Technologies
2Algorithms, Programming & Logic
2.1Algorithm Design & Problem Solving
2.1.1Computational Thinking - Abstraction
2.1.2Computational Thinking - Decomposition
2.1.3Computational Thinking - Algorithmic Thinking
2.1.4Pseudocode
2.1.5Flow Diagrams
2.1.6Interpreting, Correcting & Completing Algorithm
2.1.7Correcting Algorithms
2.1.8Completing Algorithms
2.1.9Testing
2.1.10Types of Testing
2.1.11Test Plans
2.1.12Validation & Sanitation
2.1.13Authentication & Contingencies
2.2Programming
2.2.1Programming Fundamentals - Variables & Constants
2.2.2Programming Fundamentals - Comments
2.2.3Programming Fundamentals - Input & Output
2.2.4Data Types
2.2.5Casting
2.2.6Controlling Program Flow - Sequence
2.2.7Controlling Program Flow - Selection
2.2.8Controlling Program Flow - Iteration
2.2.9Modularity - Subroutines
2.2.10Modularity - Scope
2.2.11Arrays
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