The others checks his solution and, if found correct, confirm his “win” and gave him a Bitcoin as a prize.
Once again, whoever solves the new puzzle is given a Bitcoin by all the other participants.
Let us say, 200 computer professionals were sitting in another hall nearby and they were solving their own Sudoku puzzles; and they gave their own crypto currency as a prize by the name, say, Twocoin.
If you want, you too can assemble 100 or 1000 participants in a hall or a computer network and start your own crypto currency.
Now, if a currency is accepted by sufficiently large numbers of players, then any individual owner is assured that he would be able to sell his Bitcoins and buy, say, a car.
Bitcoin is the most prominent and perhaps the most widely accepted crypto currency toady.
The original idea behind starting crypto currencies was that the value of the currencies issued by the governments was controlled by their central banks.
However, the computers in which the crypto currencies are made and stored are located in some country and are under the control of that government.
Most crypto currency enthusiasts are located in China.
Large computers are installed in these factories that try to solve the most complicated Sudoku puzzles set by the master computer.
The first problem in crypto currencies, therefore, is the huge use of electricity—which is a burden on our environment.
Incidents have taken place that an owner’s computer crashed and the crypto currency number stored in it was lost forever.
The company had to pay 5 million dollars or about Rs 40 crores in ransom to keep its pipelines running.
Be that as it may, in the main, the ransom paid in crypto currency does not leave a visible trail of bank transactions or even the numbers printed on the currency notes that could be tracked by the police.
If banks do not recognize the currencies, then the owners would not be able to use that money for any useful purpose in the economy and this harmful game will die a natural death.