Daily Archives: January 25, 2019

Cryptocurrency, money with gold and other valuable metals

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Cryptocurrency, money with gold and other valuable metals

Cryptocurrency – a new revolutionary type of money. Like any other currency or unit of account, it has value only because people believe that it has value as a unit of exchange. Some money is provided with gold or other precious metals, while others are not supported by anything, although they have value because people attach importance to them and use them as units of exchange.Cryptocurrencies were developed as a unit of exchange and as a place to store assets that are independent of central banks.

Prerequisites of creation

The economic crisis in the United States in 2008 became the starting point in the historical time scale of the world economy. This incident greatly influenced the programmer under the nickname Satoshi Nakamoto (it is still unclear whether he is one person or a group of people because the identity has not yet been established). In 2009, Nakamoto published a technical document explaining the concept, technology and source code for the blockchain implementation. In addition, he introduced Bitcoin, the world’s first cryptocurrency.Nakamoto’s invention was not devastating, but it was a fundamental technology. Blockchain in its essence sets itself the task of replacing the central authority of all forms with decentralized and peer-to-peer. From  capital88 now you will know the best of the lot.

The Best Manifestation

Cryptocurrency, money with gold and other valuable metals

The emission manifests itself as a reward to the participants who provided the power of their personal computers for the operation of the algorithm calculations. A revolutionary feature of such a system is the ability to eliminate unauthorized cryptocurrency infusion. In other words, no one can just print a certain amount of bitcoins for themselves due to the impossibility of this action. It is also unrealistic to write a programthat will replenish the balance of the wallet since the system monitors all transactions and takes them into account. Also, a bright advantage of the system is that it has a decentralized nature, and therefore is more resistant to external shocks.