What is Cryptocurrency?

Cryptokrangencie currency is the common currency such as currency, such as US Dollar, but has been
designed with the aim of exchange of digital information through a process that is possible through cryptography. Cryptography is used to secure transactions and to control the construction of new coins.
The first cryptocurrence was to be created, which was returned to Beatkin in 2009. Today there are hundreds of other cryptocyrauches, which are often called as Altocoines.

Put another way, cryptocyurrency has been converted into a code type with a monetary value.
The simplest form, the cryptocurrency digital currency is
Unlike centralized banking, unlike the Federal Reserve System, where governments control the value of currency like American currency through the process of printing Fiat Money, the government has no control over cryptokuraknuels because they are completely decentralized
Most cryptocyrachinas are designed to decrease the output over time, such as bitcoin,
which creates a market cap on them. This fashion is different from the currencies where
financial institutions can always make more, so there will never be a number of more than 21
million coins in circulation near inflation BeatCoin.
The technical system on which all cryptocycules were based, was made by Satoshi Nakamoto.
While there are hundreds of different cryptocagazine specifications, most of these are
obtained from two protocols; Proof of proof or proof-of-bets All cryptocoands are kept by a
community of cryptokurrence miners who are members of the general public who have established their
computers or ASIC machines to participate in verification and processing of transactions.

History of Cryptocurrency

The first cryptocycrine bittoine was Beatcone built in 2009 by a pseudonym Named developer named Tsotshi Nakatoto. Bitcoin uses SHA-256, which is available in the U.S. A set of cryptographic hash functions by the National Security Agency. Bitcoin is a cryptocurrency based on the proof of functioning system.
In April 2011, Nomine was created to create decentralized DNS to make the first AltoCoine internet censorship more difficult. In October 2011, light cone was released and became the first successful cryptokyreneenene to use the script as its hash function rather than SHA-256. This provided mine to lightcomines for the general public without purchasing specific hardware such as ASIC Machines used to do BitToine
Lightcone started attracting media attention at the end of 2013 - to reach the market capital of $ 1 billion, Replicone was built in 2011, built on the same protocol as Bitakoku, but in the form of payment system Services - Looks like a paypal for cryptoculture, which supports any authorized currency, crypticrusses, commodity or even continuously flear miles.