Given the rise of new technologies, especially in the new economy, we must pay attention to how the new phenomena develop, especially with the new formulas in the form of cryptocurrencies, despite their advantages and disadvantages, mostly in relation to the policies of each country. Next, we will see the basics that you need to know in order to perform well in an increasingly complicated market.
What is a cryptocurrency?
The purchase and sale of digital currencies has been the order of the day since the end of the last decade, so it is easy to find platforms with digital stock market information of the different cryptocurrencies in the market. Now, what is a cryptocurrency? Cryptocurrencies are, unlike other means of electronic payments, a currency built with cryptography or blocks of data (blockchain system) that entails increasing security, anonymity and decentralization in today’s economy thanks to the Internet .
According to various media, the first cryptocurrency to be commercialized was the well-known Bitcoin in 2009 and created in the name of an anonymous nicknamed Satoshi Nakamoto.
Some of the digital currencies that most sound in the market
Since the birth of Bitcoin, numerous digital coins of the same style have appeared. Therefore, it would not hurt to pay attention to them since you never know which one can surpass another in terms of value in the market or perhaps because of the convenience of making changes and obtaining some benefit.
Ethereum is the blockchain platform that generates cryptocurrencies called Ether whose launch date was July 2015, since then this coin is becoming one of the strongest rivals of the well-known Bitcoin. On the other hand, we find ADA, the currency of the Cardano platform, which according to Coinlist has a maximum currency offer of 45,000 million, 270 times higher than that of Ethereum, this being one of the reasons why we should pay attention .
Litecoin unlike Bitcoin, has a much faster platform in terms of transactions to be made, so it would be very light to manage it, in the market this currency is known as if it were silver if the Bitcoin were gold. These are some of the digital currencies that are booming, although there are others so much in the digital stock market, his is to be well informed of the positive and negative aspects of each of them.
What is the blockchain system?
The blockchain system , in Spanish block chain, is a platform that supports cryptocurrencies. Each of them has its own platform that in turn supports the creation of digital currency. A coin is created with different blocks of information created by “miners”.
Each of these blocks is composed of anonymous and transparent information in such a way that, for example, in the case of buying with a Bitcoin currency, that transaction will have a unique code that will represent that particular purchase, but without revealing with name and surnames to the person making the purchase. In turn, this chain of blocks breaks with intermediaries in such a way that it speeds up the transaction market as well as serving as a gigantic account registration book.