BitcoinBitcoin (abbreviation: BTC or XBT; sign: ₿) is a decentralized digital currency. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software. The word "bitcoin" was defined in a white paper published on October 31, 2008.
Decentralized autonomous organizationA decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization managed in whole or in part by decentralized computer program, with voting and finances handled through a blockchain. In general terms, DAOs are member-owned communities without centralized leadership. The precise legal status of this type of business organization is unclear. A well-known example, intended for venture capital funding, was The DAO, which amassed 3.
Self-interestSelf-interest generally refers to a focus on the needs or desires (interests) of one's self. Most times, actions that display self-interest are often performed without conscious knowing. A number of philosophical, psychological, and economic theories examine the role of self-interest in motivating human action. Individuals may have a self-serving bias towards their self-interest. Philosophical concepts concerned with self-interest include: Enlightened self-interest, a philosophy which states that acting to further the interests of others also serves one's own self-interest.
Proof of authorityProof of authority (PoA) is an algorithm used with blockchains that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake. The most notable platforms using PoA are VeChain, Bitgert, Palm Network and Xodex. In PoA-based networks, transactions and blocks are validated by approved accounts, known as validators. Validators run software allowing them to put transactions in blocks. The process is automated and does not require validators to be constantly monitoring their computers.
Rational egoismRational egoism (also called rational selfishness) is the principle that an action is rational if and only if it maximizes one's self-interest. As such, it is considered a normative form of egoism, though historically has been associated with both positive and normative forms. In its strong form, rational egoism holds that to not pursue one's own interest is unequivocally irrational. Its weaker form, however, holds that while it is rational to pursue self-interest, failing to pursue self-interest is not always irrational.
