Using what’s called peer-to-peer technology, cryptocurrencies remove middlemen like banks and the government, allowing direct transactions between a vast community of users. Because so many people are independently keeping track of the transactions, it is all but impossible for anyone to cheat. This format removes the problem of trusting millions of people — you need only trust the system.
“I believe one of the vital fascinating developments has been decentralized finance. That is actually had a boon over the previous 12 months, the place individuals are constructing tasks which are permissionless, the place you may lend and borrow funds. You may commerce. You may simply present as much as these sensible contracts and ship your collateral in and transact, you do not really want permission to do this.”
In Manhattan, NYC Mesh put a large antenna on top of a building connected directly to the internet through fiber optic cable. This “supernode,” supported by a network of point-to-point routers that volunteers install on rooftops and windows in the area, provides a fast connection for users in most of downtown. A second supernode is in place in the Brooklyn neighborhood of Bushwick, and two more are planned.