Cryptocurrency what is it? How make Cryptocurrency.......

In today's era, Cryptocurrency is a very familiar topic. Many of you have a lot of interest to know about this. Today, we've tried to cover almost a basic idea about Cryptocurrency. If you make a mistake, forgive me ....

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What is Cryptocurrency?

Cryptocurrency is a digital asset that is an exchange medium like a dollar. However, this currency does not go unchanged in the usual way like a dollar. It is managed according to the principles of cryptography. Cryptography is usually a technology used for secure transactions and the creation of new coins.

In 2008, the first cryptocurrency bitcoin was introduced. After Bitcoin, there are hundreds of cryptocurrency now called Altcoins.

Features of the Best Cryptocurrency

• Everyone accepted : Most people must be accepted by the general public and by means of exchange.
• Stable : There should be certain limitations or ratios for change in price over time.
• Compatibility : There should be a significant change and quality control compared to the surrounding competitors.
• Transaction : Must have exchange ability.
• Sustainability : It can not be easily produced. It should be rare that it is not produced without specific technology.
• Easily Accepted : Specific exchange must be easily recognized by the media.
• Profitable : Must be economically profitable.
• Partition-ability : It should have specific and acceptable value, even though it is divided in small quantities.

How is cryptocurrency generated?

Cryptocurrency was created by transforming the power into a financially priced code line. Generally speaking, it is a digital currency. In most cases, such as cryptocurrency bitcoin is designed to reduce production over time,

It is completely different from the printed currency, because financial institutions can always make Centralized Currency, so inflation is created. Bitcoin will not be more than 21 million coins. But according to current mapping statistics, this number may be up to 2140. The technical system is based on logical cryptocurrency by Satoshi Nakamoto.

What Kinds of Cryptocurrency?

The currency is usually two types. Such as-

1. Centralized Currency : The currency that is controlled by the government is called Centralized Currency. The government controls the printing or printing of this currency through the central bank. Such as dollars, different national currency etc.

2. Decentralized Currency : The currency that is not regulated by the government is called Decentralized Currency. Like most Cryptocurrency.

History of Cryptocurrency

The first cryptocurrency is Bitcoin. In 2008, a pseudo-developer named Satoshi Nakamoto created Bitcoin. Bitcoin used SHA-256, which is a set of cryptographic hash functions designed by the US National Security Agency. Bitcoin is a cryptocurrency that is based on the "proof-of-work" method.

The first Altcoin named Namecoin was launched in April 2011. It was also a Decentralized Currency that was made to make Internet censorship more difficult.

Litecoin gets release on October 1, 2011. This is the first successful cryptocurrency controlled by the s-crypt hash function. At that time, Bitcoin mining was done through ASIC machines, for which ordinary people could not Bitcoin mining. But Litecoinsare mined through simple hardware because mining is open for the public. Litecoin came to the attention of the media in 2013, in which their market cap was $ 1 billion.

Ripplecoin (XRP) was created in the same technology of Bitcoin in 2012. It is also used as a payment gateway, though cryptocurrency.

In this way, there are several hundred-and-a-half-quill coins currently owned and operated by different people.

Market Capitalization

Bitcoin is the largest cryptocurrency on the basis of market capitalization, volume and acceptability. Etherium in the second position. Then Bitcoin Cash, Ripplecoin, Lightcoin, Dashcoin

However, these statistics are variable to change. Current status of the Coin market.

What is CryptoCurrency Hash?

Cryptocurrency mining power measurement unit hash This hash power is released in the form of KH / S, MH / s, GH / s, TH / S etc.

 1 KH / S = 1,000 hashes a second
 1MH / s = a million hashes a second
 1 GH / s = one billion a second

A miner successfully resolves a block and creates a new hash. The hash algorithm converts large amounts of data into a fixed length hash, enabling large-quality data. If you know the algorithm, you can solve a hash and find real data. But it is a small number of numbers in the eyes of common eyes. It is virtually impossible to find real information from here.

SHA vs. Scrypt

For the mining of coins, the two people have used the hash function. SHA-256 and Scrypt In addition, some hash is used. Also, both the hash functions of scrypt-N and x11 are also used for mining some coins.

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