Cryptocurrency is a Digital Currency, which uses cryptography. It is a security Feature, and many cryptocurrencies are mastered systems, that based on Blockchain. Which is a Distributed ledger, started by unbelievable computer networks. The best feature of cryptocurrency is its organic nature. However government does not recognize it. In our Blog what is Cryptocurrency We will discuss the updated features of it.
History of CryptoCurrency
In year 1983, David Chaum Introduced unknown Cryptographic Electronic money that is known as "ecash". After that in 1995, he introduced Digi cash, that known as Cryptographic electronic payments, which need a software, to withdraw cash from bank.
In 1996, NSA Introduced Anonymous electronic Cash system. It shows a cryptography system which Published in MIT (mailing list). Coming to 1998, Wei Dai has given “B-money”, known as Anonymous and Electronic cash system for everyone. After that in the year 2009, Satoshi Nakamoto Designed Bitcoin. In detail this is the little history of the Cryptocurrrency.
Types of Cryptocurrency
Bitcoin
The First and best Cryptocurrency in the world. Now onlineitguru providing Bitcoin course by industry experts with 24*7 support
Litecoin
It was designed as “Digital silver”, keeping in mind with “Digital cold”. Considered as a fork of Bitcoin. It produce blocks faster than bitcoin. you can Create bitcoin account.
Ethereum Classic
It is genuine version of Ethereum. This was happened after designing autonomous company, designed on original Ethereum, when it hacked.
Monero
It is also a Cryptocurrency, which have private transactions and capacities, active communities.
Dash
It is a two-tier network. In that the first tier is for miners, that which record and secure the transactions. In that second, one contains master nodes, that start Private send and instant send method of transactions.
Qtum
It is a merger of Ethereum and Bitcoin, that which target the business applications. Allows use of distributed applications and smart contracts. It operates in the Ethereum Network. Cryptocurrency is known as Virtual Currency.
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NEO
It is also a smart contract, that which allow each and every type of Financial contracts, that which develop on its top. It has same Aims like Ethereum, but it was invented in china.
NEM
Many other cryptocurrencies make use proof of work algorithm. It uses the proof of Importance, that which need users to get certain coins to get latest one. At the same time it encourage a user to do transaction and it track his transactions. In addition Find the importance of user in NEM network.
Ripple
It do not use blockchain for getting transaction details. It use iterative consensus, by this it becomes faster than bitcoin and secure from hackers.
IOTA
This technology is called a Tangle technology, it need a sender for transaction. Which need a Proof of work that allow two transactions. Not to mention IOTA has removed special miners from process.
Bitcoin Cash
Bitcoin cash is from bitcoin mining company and supported by ASICs bitcoin Mining Chips. It is there in the market for only 5 months and we have bitcoin price chart for more benefits.
Ethereum
It is totally a Programmable currency, by that developers can Design different applications that doesn’t work without blockchain.
Read the complete blog about how Facebook making making cyptocurrency here
How Cryptocurrency is Asset to you
Payment acceptance
For example If you have a business and if you are looking for Potential and latest customers. You can accept cryptocurrencies, as their business payments. The first thing you have do, that if you are running a business and eligible to accept cryptocurrency as payment. To illustrate you have to tell your customers that, you accept cryptocurrencies as payment.
Investing
Today every Business owner believes that, Investing in Cryptocurrencies is the best opportunity. Not to mention at present many millionaires with the help Bitcoin Investment getting more profits. To enumerate it is best and most trusted Digital Currency. In future we may see cryptocurrency market also.
Crpyto Mining
Specifically Mining is best part in cryptocurrency network. As usual it is like as mining and trading Investment. Especially it offer Bookkeeping service for their communities. And computing power to solve critical cryptographic puzzles. It's best for Miner bitcoin.
These puzzles required for the confirming the transaction and record. That which known as a Distributed public ledger, known as Blockchain and We have bitcoin mining.
Purchase Goods
Generally In olden Days, there is a lot of confusion in finding the merchants, who buy Cryptocurrencies. Today we do not have Situation like this. We have merchants in online and Offline, who accept Bitcoin as a payment. Example we can take New egg and Overstock known as Local shops like bars and Restaurants. In the same fashion you can pay bitcoin for our regular payments.
So this is all about Cryptocurrency. In our blog Series, I will explain more about it. OnlineITguru is offering Cryptocurrency Free Demo with Blockchain and it is the best online training Provider in the world.