Cryptocurrency history and characteristics
If you go back to before the creation of cryptocurrency (virtual currency), it starts with digital currency. After that, virtual currency was created, and Bitcoin, the beginning of the cryptocurrency that everyone knows now, appeared in the world. In 2008, Satoshi Nakamoto published a paper to create a free currency that was not controlled by the government or central bank. Based on this paper, Bitcoin is slowly starting to become popular. At first, it was used as the word virtual currency, but in terms of operating technology, the word cryptocurrency was judged to be appropriate, and recently it is called a cryptocurrency. To put it simply, Bitcoin refers to the introduction of a P2P network format (one-to-one exchange) that has been used to exchange music or videos so far, to virtual currency. However, it is not possible to simply copy music or video. This is because it is encrypted with Crypto. This is the reason why Bitcoin was called a Cryptocurrency Solanax swaping launch.
Types of crypto currency
The first thing that comes to mind is probably Bitcoin. In addition, there are countless virtual currencies/cryptocurrencies. There are more than 3,000 of them, and they take various forms depending on the characteristics of each country. Everything other than Bitcoin is called altcoin, which is an abbreviation of Alternative Coin, which means an alternative coin that replaces Bitcoin. Among the numerous cryptocurrencies/cryptocurrencies, I will briefly introduce only the famous ones.
Bitcoin, the most famous and progenitor of cryptocurrency. It was created based on the thesis of Satoshi Nakamoto in 2008 and is still unique today. The monetary unit is BTC, and just like stocks, volatility exists depending on supply and demand. It uses a blockchain system, and as I briefly explained earlier, it is a one-to-one transaction without the intervention of a third party, and each transaction (block) is connected like a chain. It is recognized as a reliable and stable system because security is not penetrated unless many blocks are attacked at the same time.
Ethereum refers to a cryptocurrency that was conceived by Vitelic Buterin and started selling in 2014. It is one of the most popular altcoins. As a development platform for the purpose of decentralized management, the currency used within the platform is Ether. (Currency unit ETH) The most important feature is a system called a smart contract. A block chain system such as Bitcoin records only transaction details, but a smart contract is a system that records all contract details.
Ripple is a cryptocurrency officially launched in 2013 and its currency is XRP. It is one of the most popular altcoins like Ethereum. Ripple was developed by Ripple, which is headquartered in the United States.