What is cryptocurrency?
What is Cryptocurrency?
Cryptocurrencies are digital tokens that hold a specific value and use cryptography for security. Cryptography, or the act of disguising code for something else makes the system that powers cryptocurrencies nearly impossible to hack. These digital currencies are decentralized in nature, and aren't owned or controlled by any single entity. Instead, a community of users secures the network which allows for trustless transacting on a global scale. Cryptocurrencies are a lot cheaper and faster because of this.
Now, when you go to send money or convert fiat currencies, there's usually heavy fees and prolonged wait times. With cryptocurrencies you can send money anywhere almost instantly, with minimal fees. Cryptocurrencies work because of blockchain, the underlying technology which creates incentive for users to secure and maintain the network. This is done in various ways we will discuss in the coming pages.
The first blockchain, and cryptocurrency was Bitcoin. The idea was created in 2008 by an anonymous programmer named Satoshi Nakamoto. A few months later the blockchain had come to fruition from various developers who worked on the open-sourced code. Bitcoin started off as a sketchy internet currency that was mainly used on the dark web because of its' anonymity. That stigma has faded and what started off as a small-scale payment system has grown into a multi-billion dollar currency that's increasingly being accepted by businesses all over the world. Bitcoin has also kick-started an entire market of cryptocurrencies which has grown exponentially. Some like Ethereum, Ripple, and Litecoin are believed to have even more potential than their counterpart.
An in-depth look at the top crypto asset exchanges of 2018.
The ICO model is an increasingly popular mechanism to raise startup funds from all over the world. Without clear regulations, token issuers and investors have operated under a cloud of legal uncertainty. Did these public sales result in unregistered securities? Why does that matter?
As crypto assets reach their way into the portfolios of traditional investors, blockchain companies are quickly realizing the need for more traditional ways to hold and transact their assets. Custodial services have been the hot topic of this industry as of recent and the leading hardware wallet company, Ledger, decided to integrate their own custodial services into their hardware devices.
Women played a huge role in the early days of computer science. Today, blockchain and cryptocurrency are bringing women back into the tech spotlight.
The goal for the initiative behind this categorization is to inspire those with more expertise to come along and build on top of the knowledge framework we’re developing today.
A blockchain explorer is simply a web or mobile app as we know it that directly interfaces with the data contained on a blockchain. That’s it in a nutshell. In fact, you’ve probably stumbled your way into one of the popular block explorers while surfing the crypto-web without really understand the depth of the tools at your disposal:
Nick Szabo, the inventor of smart contracts and Bit Gold, laid the foundation for the creation of Bitcoin. He defined smart contracts 14 years before Bitcoin. Then he theorized bits having value based on proof of work 5 years before Bitcoin.
You’ve finally decided to bite the bullet and purchase a Ledger Nano S. Nice job! Storing your cryptocurrency on a hardware wallet is much more secure than using an online wallet or, god forbid, keeping them on an exchange. And, if you’re confused on how to start, we’re here to help you out with your Ledger Nano S setup.
Jacob Melin and his business partner Enrique Rodriquez don’t have college degrees or any credentials as investment advisors.
Still, the men in their early 20s are gathering a flock, shepherding others in Louisville into the super-new world of bitcoin and other digital currencies. They may seem young, but they are veterans with three years in the emerging phenomenon. And their ace in the hole: They’ve already scored a combined jackpot of nearly $1 million.
Technical analysis is a powerful evaluation tool that can be utilized by any investor before making any investment decision. Whether you’re trading Bitcoin, Ethereum, or any other coin, you should consider adding it to your investment strategy. Employed by investors to interpret momentum signals produced by the market, technical analysis assists traders in forecasting the price movements of an asset.