Post
Topic
Board Bitcoin Discussion
Re: What Bitcoin unit look like in real life
by
Hydrogen
on 12/12/2022, 21:15:00 UTC
Basically, I'm curious to know what a bitcoin or any cryptocurrency unit looks like in real life.


An officially printed and difficult to duplicate piece of paper, with a public key and private key to electronically stored crypto funds.

With a seal that would be broken when the keys were read. Is what I've always thought physical crypto might resemble.

There are physical cryptocurrencies like kong cash which I seem to remember having a good format:

https://kong.cash/

Quote
HOW DOES
KONG WORK?


Kong are comprised of a two parts - a physical note with a special purpose secure element, and a time-locked smart contract that mints the Kong asset. The secure element generates a private key which can never be extracted; the public key is stored in the smart contract. Kong is claimable only after expiration AND with a signature from the secure element chip.

Before the note has expired you can treat it just like cash. Unlike fiat cash, the total supply can be trivially audited and unlike crypto, can be exchanged with no records or transactions fees.