A digital currency or Cryptocurrency is a form of electronic money. Most digital currencies are designed for greater security, elimination of intermediaries, and anonymity.
Digital currencies are currencies that use cryptography to transmit on the Internet, cryptographic digitization is invisible and intrusive.
At first, cryptography was used during World War II to convey messages and military commands. In the digital age, mathematics and computer science are used to secure communications, information and money transfers.
Bitcoin's first digital currency, created in 2009, is now the king of the world of digital currencies. In the past few years, many digital currencies have been introduced and introduced. At present, around 900 digital trades are traded on global markets.
How do digital currencies work?
Digital currencies use decentralized technology, allowing users to securely pay and save money without having to register or use banks and intermediary organizations. Most digital currencies are executed on a distributed database called the Chinese Block. Most major digital currency units (except for tokens) are produced by a process called extraction or mines.
Famous digital currencies
Bitcoin: Bitcoin is the first and most popular digital currency. Bitcoin was released by an unknown individual (or individuals) named Satoshi Nakamoto in 2009. The total value of the bitcoin market is now more than $ 140 billion.
Ethereum: Developed in 2015, Ethereum Block has its own specialty, which is why it's called the Second China Cell. Ethereum is not just a payment method. On the China Ethereum Block, decentralized smart contract runs. More than 90% of the tokens are on the Ethereum platform.
Ripple: Ripple is another well-known decentralized platform. Ripple was launched in 2012 with the goal of generating high transaction capacity.
Late Kevin: The currency was introduced in 2013 with changes to Bitcoin, such as faster transactions and easier extraction.
Why are digital currencies popular?
Digital currencies are made for security and anonymity. Fraud in digital currency exchanges has no place. Someone does not own them and nobody can stop or hack them. They are decentralized and remove intermediaries.
The use of digital currencies does not require registration or documentation. The extraction process is possible for everyone, and everyone can make money with the right hardware.