The basic idea isn’t that difficult. First, look up fiat money. With these particular types of fiat money everyone agrees to keep a copy of all the transactions made with it. That way Joe goes to the store and offers to pay one crypto dollar, the store keeper looks at the ledger and sees Joe has 13 crypto dollars so he makes the sale. Everyone updates their ledgers to show that Joe now has 12 crypto dollars and the store keeper has one he got from Joe. The crypto part involves how you keep people from fiddling with the books.
The basic idea isn’t that difficult. First, look up fiat money. With these particular types of fiat money everyone agrees to keep a copy of all the transactions made with it. That way Joe goes to the store and offers to pay one crypto dollar, the store keeper looks at the ledger and sees Joe has 13 crypto dollars so he makes the sale. Everyone updates their ledgers to show that Joe now has 12 crypto dollars and the store keeper has one he got from Joe. The crypto part involves how you keep people from fiddling with the books.