What Is Crypto Currency? - Steemit friends, this time I will explain the information that is currently hot, the trend is Crypto Currency. Maybe there are friends who still don't know what Crypto Currency is, so I try to explain it one by one.
Crypto is a skill or way to secure information about third parties. Another term is Encryption. So in the presence of cryptography, sending messages / information can be carried out safely without interference from third parties by making the information unreadable without special knowledge. What this third party means is hackers, tappers and so on. Currency or currency, which is a tool of exchange that applies in the community or in a country.
What Is Crypto Currency?
Crypto Currency is a virtual currency that is used as an alternative currency that is decentralized. This means that none of the parties regulating either from the government or the originator of the Crypto Currency itself. Therefore the Crypto Currency value cannot be affected if there is an inflation caused by the central bank. Crypto Currency values are determined by enthusiasts, supply and demand in the market, as is the case with gold or other precious metals.
Crypto Currency is managed by a peer-to-peer technology network whose implementation depends on cryptographic principles to validate transactions and the generation of the currency itself. Crypto Currency can also be called a form of currency based on calculations or mathematics. Different printed paper currency or coin.
What are the different types of cryptocurrency?
There are several Cryptocurrency circulating in the world, among others, the most famous is BitCoin, whose price currently reaches Rp.98,000,000 / Btc.
There are also several BitCoin counterparts such as LiteCoin, PeerCoin, NameCoin and recently Booming in Indonesia, DDKoin
What is the Legality of Cryptocurreny?
Maybe this is the subject of many people's conversations. In many countries Bitcoin is legal, although there are several countries such as Argentina and Russia) which strictly prohibit foreign currencies. Other countries (such as Thailand limit the permits of certain currency entities such as Bitcoin exchanges).
Policy makers from various countries are taking steps to provide regulations for individuals and businesses on how to integrate this new technology with formal financial system regulations. For example, the Financial Crimes Enforcement Network (FinCEN), a bureau in the United States Treasury, publishes free guidance on how the government handles certain activities related to virtual currencies.
So hopefully it will be useful ... Regards, user steemit ...