10 things you did not know about Criptovaluta Yet

The arguments based on Blockchain are the current hot programs and the cryptocurrency is one of those. Bitcoin and other cryptocurrencies have the potential to compete with both legal currencies and online payment systems such as credit / debit cards and PayPal. If the twentieth century was the beginning of the banks and the stock market, the 21st century is the beginning of the blockchain and cryptocurrency thanks to their innovative features that have already driven many large IT companies and online retailers to accept them. Although cryptocurrency has become a global phenomenon, there are many people who do not know the cryptic world.

Below are 10 things about Criptovaluta that you need to know before entering your world.

What is the cryptocurrency?

The prefix & # 39; Crypto & # 39; stands for & # 39; Cryptography & # 39; which is a method of sending and receiving digital currency through the use of codes. The method verifies the transfer of digital resources, protects financial transactions and controls the creation of new units. Cryptocurrency is basically a digital currency exchanged between one person and another person with the help of cryptography. It works without the involvement of intermediaries such as governments and banks. Bitcoin is the first cryptocurrency and other digital currencies such as Ethereum (ETC), Ripple (XRP), Litecoin (LTC) and Stellar (XLM) are referred to as "Altcoin". Bitcoin and other cryptocurrencies work on their respective blockchain to process transactions.

Bitcoin

Bitcoin is an open source and decentralized software created in 2009. It is also a cryptocurrency and is a peer-to-peer payment network managed on a cryptographic protocol. His transactions are recorded in a distributed public register known as Blockchain. Bitcoin.org is the domain name registered on 18 August 2008. The title "Bitcoin: a peer-to-peer electronic payment system" was published in a mailing list created by Satoshi Nakamoto on 31 October 2018. The first block in Bitcoin Blockchain is known as "Genesis Block" which had a reward of 50 BTC.

Altcoins

& # 39; Alt & # 39; stands for Alternative and "Coins" means Cryptocurrencies. Altcoins are basically known as "Alternative Cryptocurrencies" launched after the success of Bitcoin. There are more than 2000 cryptocurrencies on the Internet since 19 December 2018. Together with Ethereum (ETH), Litecoin (LTC), Stellar Lumens (XLM) and Ripple (XRP), other altcoins are Namecoin (NMC), PeerCoin (PPC) ), Dogecoin (DOGE), Dash (DASH), Monero (XMR), Bitcoin Cash (BTC), Tether, Zcash (ZEC), NEM (XEM) and EOS.IO (EOS). Not all altcoins have a mining process, but the Altcoins created in the Bitcoin-based framework are Peer-to-Peer and have a mining process.

Blockchain technology

Blockchain is a shared shared accounting technology that tracks transactions. It is a collection of fields of different types of data and the data types will be fixed number or sequence. A record can not be changed retroactively without the modification of all subsequent blocks and the consent of the network. ISeach block is connected to 2 other blocks: one before and one next, forming a Merkle tree. In 2008, the blockchain was invented for the first time by Satoshi Nakamoto to solve the problem of double spending without the involvement of the governmental entity or any other third party. Not all cryptocurrencies work with blockchain technology, ie IOTA (MIOTA), Nano (NANO) and MaidSafeCoin (MAID).

Cryptocurrency extraction

Cryptocurrency mining is a method to verify and add new blocks to the blockchain and also to release new currency. Miners should solve complex mathematical problems with cryptographic hash functions. The functions will have an input of any length and will produce a fixed length output. The properties of ideal cryptographic hash functions are computationally efficient, pre-image resistance, second pre-image strength and collision resistance. The first miner to solve the problem will be rewarded with cryptocurrency. Miners require a computer with specialized hardware so that they can be competitive with other crypto-miners.

ICO

The initial offer of coins is called ICO, a type of crowdfunding operated on blockchain technology. Tokens must be sold to investors in exchange for other cryptocurrencies. Most investors invest in ICOs in order to receive rapid and huge returns on their long-term investments. In 2014, Ethereum collected 3,700 BTCs (almost $ 2.3 million) through an ICO in its first 12 hours. Starting from February 2018, Ethereum was considered one of the main blockchain platforms in terms of ICO, with a market share of more than 80%. Ethereum tokens are based on the ERC20 standard. Start-ups can use an ICO to generate capital without intermediaries such as capitalists, banks and exchanges.

Cryptocurrency exchange

Cryptocurrency exchange it is a digital market that allows customers to buy and sell cryptocurrency for other digital resources. There are three types of exchanges: trading platforms, direct trading platforms and cryptocurrency brokers. Trading platforms are basically websites that connect buyers and sellers all over the world and charge transactions. Direct trading platforms offer a person-to-person direct trading system and each vendor should set his own exchange rate. Cryptocurrency Brokers has its own websites and allows customers to visit their websites to purchase cryptocurrency at a price they set. Some of the cryptocurrency exchanges are Coinbase, Binance, BitMEX, Kraken, Houbi, KuCoin and Bittrex.

Used for the purchase of many things

Cryptocurrency is widely accepted as a payment method. The Intuit PayByCoin service allows small businesses to use the Quickbooks Online payment service to accept cryptocurrency payments. Some technology companies are Microsoft, Expedia and CheapAir. Some hosting services are QHoster, FlokiNet and Snail.com. With the help of popular gift card sites like eGifter and Gyft, you can purchase goods from retailers such as Amazon, JCPenny, Sephora, Home Depot, Kohl's, CVS Pharmacy, Whole Foods and Target. You can also use cryptocurrency to buy music from Ujo Music, electronic gadgets from Overstock, pizza from PizzaForCoins, Gold or Silver from Amagi Metals and jewelry from Reeds Jewelers, Inc. Dish is one of the providers of satellite TV and Internet services that also use cryptocurrency payments.

Cryptocurrency investment

The investment in cryptocurrency is the process of investing funds for profit. The process is just like an investment in financial markets, real estate and commodities. There are two types of investments in cryptocurrency: investment in short and long-term cryptocurrency. If any company wants to launch its ICO and you are able to recognize and confirm the identity of your already selected online source, then you can make a short-term investment. Either you have unused funds and you will probably leave it for a longer period or if you believe in the future of your already selected company, then you can make a long-term investment. Considering the current market capitalization, some of the best cryptocurrencies to invest are Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), EOS.IO (EOS) and Ripple (XRP).

Cryptocurrency market

The cryptocurrency market continues to fluctuate. If it has seen its lowest point, it has also seen its highest growth. Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Stellar (XLM), Litecoin (LTC), Bitcoin Cash (BCH), EOS.IO (EOS) and TRON (TRX) are among the top 10 cryptocurrencies. According to Statist, Bitcoin reached its all-time high at $ 13,860.14 on December 17, 2018 and Ethereum reached its highest peak at $ 1,098.36 on January 18, 2018. According to CoinGecko, EOS.IO (EOS) was $ 2 , 66 and TRON (TRX) the price was around $ 0.01637477 on December 19, 2018. Litecoin (LTC) was also its all-time high with $ 315.15 on 21 December 2017 and the price of Bitcoin Cash (BCH) was $ 3,785.82 on December 20, 2017. On 4 January 2018, the Stellar price (XLM) was $ 0.755119 and the price of Ripple (XRP) was $ 2.14 on 9 January 2018.

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