Cryptocurrency is virtual money, which, unlike fiat funds, has no physical expression.
The key feature of cryptocurrencies is decentralization – the absence of any internal or external administrator.
The bitcoin network consists of related transaction blocks. Each subsequent block contains information about the previous one, so you can build them into a single chain and get information about all the transactions that have been made earlier (but not about the owners of bitcoins).
The process of creating new blocks is called mining. In order for the next block to appear on the network, it is necessary to generate a cryptographic signature for it. As a reward, you get new bitcoins. By the way, their emission is not an endless process. It is known in advance that no more than 21 million bitcoins can be created.
Almost all cryptos out there have similar mechanisms to bitcoin, differences consist in encryption methods or mining rewards.
Posts in this category:
Bitcoin to rally again?-Today is a bullish news day for Bitcoin and crypto in general, as we got important announcements that show support for cryptocurrencies. Zero interest rates until 2023 Major things are happening, first being Federal Reserve Chairman Jerome Powell, who announced ... Read more
What is TomoChain (TOMO) and how can I buy it?- Price and capitalization of Tomochain Find below the main information concerning the price and the capitalization of TOMO with in particular: the price: in dollars and in bitcoin , as well as the price variation over the last 24 ... Read more
What is ZCash (ZEC) and how can I buy it?-Price and capitalization of ZCash (ZEC) You will find below the main information concerning the price and the capitalization of ZCash with in particular: the price: in dollars and bitcoins, as well as the price variation over the last 24 ... Read more
What is VeChain (VET) and how can I buy it?- Price and capitalization of VeChain Below you will find the main information about VET cryptocurrency including: the price: in dollars and bitcoin, as well that the price variation over the last 24 hours the rank: world ranking of ... Read more
Litecoin (LTC) may become anonymous from today-Litecoin (LTC) soon anonymous? The progress of the Mimblewimble Extension Block project was detailed by David Burke, who manages the integration of this anonymous module in Litecoin. The developer explains that he has encountered difficulties in resolving issues related to ... Read more