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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 however, it is made for exchanging digital information through a process that is cryptography. Cryptography secures all of the transactions and even controls newly created coins. The first cryptocurrency was created in the year 2009 and it was known as the bitcoin. Nowadays, there are hundreds of crytocurrency and it is called 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 since the government has no control over it and it is fully decentralized. Almost all kinds of cryptocurrencies are created to minimize the production just like bitcoin to make a market cap on them. This is not like financial institutions since they can always make more. Bitcoins does not have more than 21 millions coins. The technical system where they based crytocurrency was invented by Satoshi Nakamoto. Since there are different kinds of cryptocurrency it also has its specifications. The specifications of cryptocurrency are based from protocols such as proof of stake or proof of work.
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Cryptocurrency miners maintain cryptocurrency and they are part of the general public that set up ASIC machines or computers in order to validate and process transactions.
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The largest kind of cryptocurrency is the Bitcoin. However, it is not the most valuable cryptocurrency. Litecoin is the kind of cryptocurrency that is next to bitcoin. Dogecoin is one of the most known kind of cryptocurrency. The dogecoin is in the average level and has a low market cap. The mining power of Cryptocurrency is rated on the scale of the hashes every second. When the cryptocurrency miner will solve a block, new hashes will be created. The hash algorithm will transforms the data into fixed hash. It is just like a code, if you know the algorithm then you can easily solve the has and expose the original data. There are actually two kinds of hashing functions. Cryptocurrency has two parts of security. 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. The miners will make 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.