What is the meaning of the phrase 'vires in numeris ledger' in the context of cryptocurrency?

3 answers

• Mar 28, 2022 · 3 years ago
  The phrase 'vires in numeris ledger' is a Latin phrase that translates to 'strength in numbers ledger'. In the context of cryptocurrency, it signifies the power and security provided by the decentralized nature of blockchain technology. The ledger, which records all transactions, is maintained by a network of computers (nodes) rather than a central authority. This distributed ledger ensures transparency, immutability, and resistance to censorship. 'Vires in numeris ledger' emphasizes the importance of the collective strength and trust in the cryptographic system that underpins cryptocurrencies.
  601301
• Mar 28, 2022 · 3 years ago
  When it comes to cryptocurrency, 'vires in numeris ledger' means that the strength and integrity of the system lies in the numbers and the ledger. Cryptocurrencies like Bitcoin rely on a decentralized ledger called the blockchain, where every transaction is recorded and verified by multiple participants in the network. This distributed nature of the ledger ensures that no single entity can manipulate or control the system. 'Vires in numeris ledger' highlights the power of the collective network and the trust placed in the cryptographic algorithms that secure the ledger.
  576192
• Mar 28, 2022 · 3 years ago
  In the context of cryptocurrency, 'vires in numeris ledger' refers to the fundamental principle of the industry, which is the reliance on a decentralized ledger for transaction verification and record-keeping. This phrase emphasizes the importance of the blockchain, a distributed ledger technology that enables secure and transparent transactions without the need for intermediaries. The phrase 'vires in numeris ledger' is often used to highlight the strength and reliability of cryptocurrencies, as they are built upon a system that is resistant to fraud and tampering. It signifies the power of numbers and cryptography in ensuring the integrity of the ledger.
  664166