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Everything You Need To Know About Cryptocurrency Cryptocurrency is a considered as a method of exchange. This is just like a normal currency but, it was created for exchanging digital information through a process that is known as cryptography. Cryptography will secure all of the transactions and control coins that are just created. The first cryptocurrency was created in the year 2009 and it was known as the bitcoin. Today, there are a lot of crytocurrency and it is known as the Altcoins. Cryptocurrency is also reffered as digital currency and it is converted as lines of codes that has monetary value. Cryptocurrency is not like centralized banking because the government is not controlling it and and it is fully decentralized. Most kinds of cryptocurrencies are made to minimize the production just like bitcoin to make a market cap on them. This is not the same as financial institutions because they can always make more currencies. Bitcoins does not have more than 21 millions coins. The technical system where they based crytocurrency was made by Satoshi Nakamoto. Because there are different types of cryptocurrency it also has its specifications. These specifications are based from protocols like proof of stake or proof of work.
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Cryptocurrency miners are part of the general public and maintains cryptocurrency and set up ASIC machines or computers in order to validate and process transactions.
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The bitcoin is the most largest types of cryptocurrency. However, it is not known as the most valuable kind of cryptocurrency. Litecoin is the kind of cryptocurrency that is next to bitcoin. Most people are familiar with the Dogecoin. The dogecoin is in the average level of cryptocurrencies and has a low market cap. Cryptocurrency has a mining power and it is rated on the scale of the hashes every second. When the cryptocurrency miner will solve a block, new hashes will be produced. The hash algorithm will transforms the data into fixed hash. It is just like a code, once you know how to determine the algorithm then you can easily solve the has and expose the original data. There are actually two kinds of hashing functions. The security of cryptocurrency is divided in two parts. The first part of the security is controlled by cryptocurrency miners and they make it hard to find hash set intersections. The second part of the security is focused on the attack. They will generate an alternative block chain. This is why the attacker can only do limited things. Most countries legalized cryptocurrency. There are different websites that monitors cryptocurrency. These sites is where you can check the price, the market cap and the availability of volume and supply of cryptocurrencies. This is where you can communicate with the community.