What is Crypto currency?
Crypto currency is digital money that uses cryptography (a mathematical system) to secure financial transactions and authenticate users. Bitcoin was the first crypto-currency to gain significant traction within the mainstream public. It was created in 2009 by someone using the pseudonym Satoshi Nakamoto. In January 2010, Nakamoto released his white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” where he described how bitcoin would work. He explained that the network would consist of miners who validate transactions and add them to the blockchain. Miners receive bitcoins in exchange for validating transactions.
The number of bitcoins issued to date is capped at 21 million. Once they reach this limit, no additional coins will be added. The total supply of bitcoins is thus fixed. However, the rate at which new bitcoins are being mined changes dynamically. As of April 2017, the average block time is 10 minutes, and blocks reward 25 bitcoins. Thus, each year, about 2.5% of the maximum supply is generated.
History of Crypto currency?
Crypto currencies have been around since the early 2000’s. Bitcoin was created in 2009 by Satoshi Nakamoto. In 2013, Ethereum was introduced to the world by Vitalik Buterin. Since then, many different cryptocurrencies have been developed, including Ripple, Litecoin, Dash, Dogecoin, Monero, Zcash, and others.
Cryptocurrencies are digital assets designed to work without a central bank or single administrator. Cryptocurrencies were invented as a way to send money over the internet with less risk of censorship, fraud, or third-party interference.
The first cryptocurrency ever created was called Bitcoin. It was released in 2008 by Satoshi Nakamoto. The name comes from the pseudonym of its creator, who published his work under the title “Bitcoin: A Peer-to-Peer Electronic Cash System”.
In 2010, the second cryptocurrency was introduced, named Litecoin. Its inventor was Charles Lee. He wanted to create a coin that could scale well enough to compete with Bitcoin.
After the success of Bitcoin and Litecoin, many other cryptocurrencies started to emerge. One of them is Etherium, which was created in 2015 by Vitalik Buterins. It is based on the blockchain technology and aims to become a decentralized platform for applications.
Today, there are hundreds of different cryptocurrencies in existence. Each of them offers something unique and special. You should try out some of these coins if you want to learn about crypto currencies.
Starting of Crypto currency?
Crypto Currency is a digital asset designed to work as a medium of exchange using cryptography (specifically, public-key cryptography) to secure financial transactions, create electronic money, and verify the authenticity of users.
Cryptocurrency is a type of digital currency where encryption techniques are applied to the system to regulate and control the generation of units of currency and verification of transfers. Cryptography is the science of secret writing or codes, and it’s how we protect our sensitive information online.
Cryptocurrencies are based on open-source software distributed under free licenses and decentralized design. Unlike traditional fiat currencies, cryptocurrencies are not issued by any central bank or government. Instead, they are self-regulated by the peer-to-peer network.
The first cryptocurrency was Bitcoin, which was released in 2009 by pseudonymous developer Satoshi Nakamoto. Since then, many other cryptocurrencies have been developed, some with unique characteristics.