The emergence of cryptocurrency is already taking over in our daily transactions. Cryptocurrency is a digital asset that exists in the crypto world with many referring to it as ”digital gold”. But what really is cryptocurrency? You must be wondering.This is a digital asset intended to be used as a medium of exchange. Clearly, this is a close substitute for money. However, it uses a strong cryptography to secure financial transactions, to verify the transfer of assets and control the creation of additional units. All cryptocurrency is either virtual currency, digital currency or alternative currency. It is imperative to note that all cryptocurrencies use a decentralized system of control as opposed to the centralized systems of banks and other financial institutions. These decentralized systems work through a distributed ledger technology that serves a public financial database. Normally, a blockchain is used.What is a blockchain?This a continuously growing list of records which are linked and secured using cryptography. This list is called blocks. A block chain is an open, distributed ledger which can be used to record transactions between two parties in a manner that is verifiable and permanent. To enable a block to get used as a distributed ledger, it is managed by a peer-to-peer network which collectively adheres to a protocol for validation of new blocks. Once the data is recorded in any book, it cannot be altered without the alteration of all other blocks. Therefore, blockchains are secure by design and also act as an example of distributed computing system.The History of cryptographyDavid Chaum, an American cryptographer discovered an anonymous cryptographic electronic money that was called ecash. This happened in the year 1983. In the year 1995, David implemented it through Digicash. Digicash was an early form of cryptographic electronic payments that required user software in order to withdraw notes from a bank. It also allowed the designation of specific encrypted keys before being sent to a recipient. This property allowed the digital currency to be untraceable by the government, the issuing bank or any third party.Following increased efforts in the following years, Bitcoin was created in the year 2009. This was the first decentralized cryptocurrency and was created by Satoshi Nakamoto, a pseudonymous developer. Bitcoin used SHA-256 as its cryptographic hash function (proof-of-work scheme). From the release of bitcoin, the following cryptocurrencies were also released.1. Namecoin (April 2011)2. Litecoin (October 2011)3. PeercoinThese three coins and many others are referred to as altcoins. The term is used to refer to the alternative variants of bitcoin or simply other cryptocurrencies.It is also imperative to note that cryptocurrencies are exchanged over the internet. This means that their use is primarily outside the banking systems and other governmental institutions. The cryptocurrency exchanges include exchange of cryptocurrency with other assets or with other digital currencies. Conventional fiat money is an example of an asset that can be traded with cryptocurrency.Atomic SwapsThese refer to a proposed mechanism whereby one cryptocurrency will be able to get exchanged directly from another cryptocurrency. This means that with atomic swaps, there wouldn’t be a need for participation third party in the exchange.
Te History Of CRYPTOCURRENCY
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DigitalTicks Exchange – An Advanced Cryptocurrency Exchange
DigitalTicksExchange: An advanced cryptocurrency exchange!!!DigitalTicksExchange is just not another crypto-crypto trading platform. It is designed by traders for traders. The inception of the idea started way back in December 2017. DigitalTicksExchangeteam is coming up with THE FIRST EVER COMMODITY CRYPTO EXCHANGE. The team aims to provide the best trading platform for the cryptocurrency market.Mission & Vision of DigitalTicksExchangeWith the major aim to be in the top 3 crypto currency exchanges in terms of market capitalization, the team has deployed a robust, more powerful and best in class technology required by an advanced cryptocurrency trading exchange 2018 with the intention to be the best online trading platform for cryptocurrency. Our team is dedicated to offer the most customizable exchange platform to the traders and brokers and thereby achieving a step closer to the goal of being the only user-friendly exchange with the ease of trading crypto currency and crypto commodity.With the increase number of crypto exchanges around the world the cryptocurrency exchange market has seen plenty of new users attracted towards trading these currency swaps but the major challenge for any crypto currency exchange is to tackle with the Security of the exchange and thereby building the Trust and confidence in the mind of the end users. DigitalTicksExchange with its multi cryptocurrency wallet exchange and advanced Security Audit systems and regular vulnerability testing, plans to be one of the most trusted digital currency exchange around the globe.DigitalTicksExchange team comprises of traders, industrialists. Entrepreneurs, Blockchain enthusiasts. To make the exchange successful DigitalTicksExchange innovative developers have given all the extra efforts to understand the needs and requirements of the traders starting from novice to professional. The platform is customized in such a way that it is easy to use by all the market participants be it a Hedger, Scalper, Arbitrager or Speculator.Here is the list of few unique features that would be offered on DigitalTicksExchangeSemi-Algorithm FunctionalitySingle order Portfolio ViewHot Keys FunctionMultiple Trading InstrumentsMultiple Device CompatibilityDigitalTicksExchange Token (DTx)DTx is DigitalTicksExchange UTILITY Token. DTx Utility token can be bought using Bitcoin, Ethereum and bank wire transfers. The pre-sale of this token had begun on March 25, 2018, and the Public sale on April 15, 2018. The token sale ended on June 15, 2018.The team is happy to announce about its successful Token Sale. During the token sale team have sold a total of 64 millions of tokens thereby raising 30 million USD. There are currently 30,000 plus community members of DigitalTicks and the count is growing much faster.Benefits of trading on DigitalTicksExchangeThe trading platform of DigitalTicksExchange is much smoother and offers a great User Interface with multiple functionalities required by the traders. One of the major benefits of using our platform is that the exchange will not charge any transaction fees for the first few months. This can be a great profit oppurtunity for high-frequency traders. We will also offer volume-based incentives to those high-frequency traders going ahead. We love our users and would like to create a fair market for all our registered users thereby helping them trading cryptocurrency for profit by providing regular research reports prepared by our team of expert researchers.ConclusionWith the incentives like Volume Based model, Maker-Taker Concept DigitalTicksExchangeis focused by providing the ease of doing trading and charging a fair price for a trade. With the aim to be at the top, DigitalTicksExchangeteam is dedicated to provide all tools and support required by any of its traders to trade the crypto currency market. The exchange will be completely developed and launched on or before end of August 2018. The team believes that DigitalTicksExchangewould be the most advanced cryptocurrency exchange platform to trade different crypto – crypto as well as commodity to crypto.!!!!
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If You Thought You Missed The Internet Profit Revolution Try CryptoCurrency
When most people think of cryptocurrency they might as well be thinking of cryptic currency. Very few people seem to know what it is and for some reason everyone seems to be talking about it as if they do. This report will hopefully demystify all the aspects of cryptocurrency so that by the time you’re finished reading you will have a pretty good idea of what it is and what it’s all about.You may find that cryptocurrency is for you or you may not but at least you’ll be able to speak with a degree of certainty and knowledge that others won’t possess.There are many people who have already reached millionaire status by dealing in cryptocurrency. Clearly there’s a lot of money in this brand new industry.Cryptocurrency is electronic currency, short and simple. However, what’s not so short and simple is exactly how it comes to have value.Cryptocurrency is a digitized, virtual, decentralized currency produced by the application of cryptography, which, according to Merriam Webster dictionary, is the “computerized encoding and decoding of information”. Cryptography is the foundation that makes debit cards, computer banking and eCommerce systems possible.Cryptocurrency isn’t backed by banks; it’s not backed by a government, but by an extremely complicated arrangement of algorithms. Cryptocurrency is electricity which is encoded into complex strings of algorithms. What lends monetary value is their intricacy and their security from hackers. The way that crypto currency is made is simply too difficult to reproduce.Cryptocurrency is in direct opposition to what is called fiat money. Fiat money is currency that gets its worth from government ruling or law. The dollar, the yen, and the Euro are all examples. Any currency that is defined as legal tender is fiat money.Unlike fiat money, another part of what makes crypto currency valuable is that, like a commodity such as silver and gold, there’s only a finite amount of it. Only 21,000,000 of these extremely complex algorithms were produced. No more, no less. It can’t be altered by printing more of it, like a government printing more money to pump up the system without backing. Or by a bank altering a digital ledger, something the Federal Reserve will instruct banks to do to adjust for inflation.Cryptocurrency is a means to purchase, sell, and invest that completely avoids both government oversight and banking systems tracking the movement of your money. In a world economy that is destabilized, this system can become a stable force.Cryptocurrency also gives you a great deal of anonymity. Unfortunately this can lead to misuse by a criminal element using crypto currency to their own ends just as regular money can be misused. However, it can also keep the government from tracking your every purchase and invading your personal privacy.Cryptocurrency comes in quite a few forms. Bitcoin was the first and is the standard from which all other cryptocurrencies pattern themselves. All are produced by meticulous alpha-numerical computations from a complex coding tool. Some other cryptocurrencies are Litecoin, Namecoin, Peercoin, Dogecoin, and Worldcoin, to name a few. These are called altcoins as a generalized name. The prices of each are regulated by the supply of the specific cryptocurrency and the demand that the market has for that currency.The way cryptocurrency is brought into existence is quite fascinating. Unlike gold, which has to be mined from the ground, cryptocurrency is merely an entry in a virtual ledger which is stored in various computers around the world. These entries have to be ‘mined’ using mathematical algorithms. Individual users or, more likely, a group of users run computational analysis to find particular series of data, called blocks. The ‘miners’ find data that produces an exact pattern to the cryptographic algorithm. At that point, it’s applied to the series, and they’ve found a block. After an equivalent data series on the block matches up with the algorithm, the block of data has been unencrypted. The miner gets a reward of a specific amount of cryptocurrency. As time goes on, the amount of the reward decreases as the cryptocurrency becomes scarcer. Adding to that, the complexity of the algorithms in the search for new blocks is also increased. Computationally, it becomes harder to find a matching series. Both of these scenarios come together to decrease the speed in which cryptocurrency is created. This imitates the difficulty and scarcity of mining a commodity like gold.Now, anyone can be a miner. The originators of Bitcoin made the mining tool open source, so it’s free to anyone. However, the computers they use run 24 hours a day, seven days a week. The algorithms are extremely complex and the CPU is running full tilt. Many users have specialized computers made specifically for mining cryptocurrency. Both the user and the specialized computer are called miners.Miners (the human ones) also keep ledgers of transactions and act as auditors, so that a coin isn’t duplicated in any way. This keeps the system from being hacked and from running amok. They’re paid for this work by receiving new cryptocurrency every week that they maintain their operation. They keep their cryptocurrency in specialized files on their computers or other personal devices. These files are called wallets.Let’s recap by going through a few of the definitions we’ve learned:• Cryptocurrency: electronic currency; also called digital currency.
• Fiat money: any legal tender; government backed, used in banking system.
• Bitcoin: the original and gold standard of crypto currency.
• Altcoin: other cryptocurrencies that are patterned from the same processes as Bitcoin, but with slight variations in their coding.
• Miners: an individual or group of individuals who use their own resources (computers, electricity, space) to mine digital coins.
o Also a specialized computer made specifically for finding new coins through computing series of algorithms.
• Wallet: a small file on your computer where you store your digital money.Conceptualizing the cryptocurrency system in a nutshell:• Electronic money.
• Mined by individuals who use their own resources to find the coins.
• A stable, finite system of currency. For example, there are only 21,000,000 Bitcoins produced for all time.
• Does not require any government or bank to make it work.
• Pricing is decided by the amount of the coins found and used which is combined with the demand from the public to possess them.
• There are several forms of crypto currency, with Bitcoin being first and foremost.
• Can bring great wealth, but, like any investment, has risks.Most people find the concept of cryptocurrency to be fascinating. It’s a new field that could be the next gold mine for many of them. If you find that cryptocurrency is something you’d like to learn more about then you’ve found the right report. However, I’ve barely touched the surface in this report. There is much, much more to cryptocurrency than what I’ve gone through here.
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