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@ -81,7 +81,7 @@ In this chapter we'll get started by explaining some of the main concepts and te
.Digital Currencies Before Bitcoin
****
The ((("digital currencies", "history of")))((("history", "of digital currencies", secondary-sortas="digital currencies")))((("cryptography")))emergence of viable digital money is closely linked to developments in cryptography. This is not surprising when one considers the fundamental challenges involved with using bits to represent value that can be exchanged for goods and services. Three basic questions for anyone accepting digital money are:
The ((("digital currencies, history of")))((("history", "of digital currencies", secondary-sortas="digital currencies")))((("cryptography")))emergence of viable digital money is closely linked to developments in cryptography. This is not surprising when one considers the fundamental challenges involved with using bits to represent value that can be exchanged for goods and services. Three basic questions for anyone accepting digital money are:
1. Can I trust that the money is authentic and not counterfeit?
2. Can I trust that the digital money can only be spent once (known as the “double-spend” problem)?