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what is crypto currency

We tell what is the crypto currency, how it differs from the rupee, how to get a pair of bitcoins and whether it is possible to make your fork with blocking and mining.

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What is crypto currency and how does it differ from the rupee?

There is a rupee. Crypto currency is not a rupee. Because, firstly, the crypto currency is a coin that does not depend on oil, Obama’s statements and wars anywhere in Iraq. Secondly, it’s encrypted. Thirdly, there is a suspicion that the more hype around the crypto currency, the more it is priced. But this, of course, is not accurate.

The main distinguishing feature of the currency from conventional money is the decentralized system. Crypto-currencies do not belong to any banking system, so they are stable.

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Delivery of crypto currency is limited, it is becoming increasingly difficult to obtain coins, so their value will grow. Not the least role is played by encryption, which means full security of money that you have, as well as all your transactions. Since all transactions are recorded, the possibility of fraud is minimal and immediately monitored.

A centralized and decentralized system: what’s the difference?

Take, for example, Yandex.Money. To send someone some amount, the server is asking, they say, Ramesh wants to send Mukesh 500 rupees, and people who own the server, confirm or do not confirm Ramesh’s request.

With crypto-currencies everything is different. There are a lot of servers here, and they all belong to different people. To send someone 500 rupees, you need to write about it in the message – for example, “I transfer from this account to another such amount,” sign this with the key that fits the account, and send a message to a thousand people. They decide whether to be a transaction or not.

What is the most popular crypto currency and what is it?

The most popular and expensive crypto currency is Bitcoin. This is money that is on the Internet and that no one can control. Crypto-currencies work on open source software using cryptography and peer-to-peer network.

By itself, bitcoin, like any other crypto currency, is a complicated and interesting thing. Someone sees this as a cryptographic solution, a new technology that will blow up the market, a way to make money or a new software, with which you can come up with a bunch of other interesting things.

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