Cryptography: The key to cryptocurrency

Cryptography is the technique of using encryption to keep your messages private. For thousands of years, people have used ciphers to hide their communications. With the rise of the computer age, cryptography has extended further than ever before thanks to the new techniques created.

Cryptocurrency has taken crypto more mainstream without people realising that cryptocurrencies are based within the technology of cryptography. This often leads to people shortening crypto for cryptocurrency, when in reality crypto is short for cryptography.

This often makes me scream at my computer à la Alan Partridge thinking, “Stop getting crypto wrong!”

Crypto has a much wider use case than just cryptocurrencies. Whilst cryptography underpins much of cryptocurrencies in that they use similar crypto techniques, cryptography is the cornerstone of modern surveillance. The National Security Agency of the US is the most prominent entity working on cryptography, and they have been developing their expertise for the past 50 years.

Whilst the linkage between the two runs deep, the importance of cryptography seems to have been lost within the cryptocurrency community for many. However, this hasn’t stopped projects from focusing on privacy as a key feature to improve cryptocurrencies, no matter how much the regulators may dislike it.

Crypto by Steven Levy is an excellent introduction to understanding the history of this movement. Whilst the topic of Bitcoin isn’t discussed, many of the early ideas and influences discussed within the book serve as a great primer to the technology. This Machine Kills Secrets by Andy Greenberg gives a more modern analysis of the rise of Bitcoin.

Together, these two books help in developing a base of knowledge, and might help you understand why you shouldn’t invest in numerous s**tcoins, and why you should question the idea that blockchains are the saviour of the new world. I urge members of the community to look into the history and philosophy of crypto to help them understand why Bitcoin and privacy is important.