Cryptocurrency is a medium of exchange (an alternative form of payment) that exists in the digital world and relies on encryption to make transactions secure. The technology behind cryptocurrency allows users to directly send the currency to others without going through a 3rd party, such as a bank. To make these transactions, users will need a digital wallet that can be set-up without the need to provide personal details such as an identification number or credit score, therefore allowing users to be pseudo-anonymous.
For the average cryptocurrency user, this anonymity provides peace of mind that their personal information or transaction…
To compare the production costs of the different types of energy, the levelised cost of energy (LCOE) is used. LCOE calculates the cost per unit production of electricity, which can be understood as the average minimum price for producers to charge the electricity in order to break even. The formula of LCOE is:
Penultimate Year Student at National University of Singapore