Hi Guys, introduce me to Angga Ariska. First of all, thank you for reading my blog.
Here I will discuss about cryptocurrencies, as we know Cryptocurrencies are very, very popular in recent years. And maybe, there are some people who don't really understand what cryptocurrency is. Therefore I will discuss this so that people start to understand cryptocurrency
What is Cryptocurrency?
Cryptocurrency or crypto money is a currency that has become popular in recent years. In the world, there are many types of cryptocurrencies in circulation.
From the name, cryptocurrency comes from two words, namely cryptography which means secret code and currency which means currency. In other words, cryptocurrency is a virtual currency that is protected by a secret code.
Simply put, crypto money is a currency that has a fairly complex secret password that functions to protect and maintain the security of this digital currency.
Quoted from Investopedia, the protection system for cryptocurrencies or crypto money is to use cryptography as collateral.
Cryptography itself is a method used to protect information and communication channels through the use of codes.
The concept of cryptography has actually been known since the days of World War II. At that time, Germany used cryptography to send secret codes so that they were not easily read by the allies.
The use of cryptography makes the use of crypto currency unable to be manipulated. This means that cryptocurrency transactions cannot be counterfeited.
The listing of cryptocurrencies or cryptocurrencies is usually centralized in a system called blockchain technology.
How cryptocurrencies work?
Quoted from Forbes, there are three keywords attached to how cryptocurrencies work, namely digital, encrypted, and decentralized.
This means that unlike conventional currencies, namely the US dollar or Euro, or even rupiah, this digital currency is not controlled by a central authority in terms of the value of the money.
So that the task of controlling and managing this currency is fully held by cryptocurrency users via the internet.
Bitcoin is the first cryptocurrency. The principle of cryptocurrency itself has been explained in principle by Satoshi Nakamoto in an article entitled 'Bitcoin: Peer to Peer Electronic Money System' which can be accessed on the bitcoin.org page.
In the article, Nakamoto described the cryptocurrency asset project as an electronic payment system based on cryptographic evidence, not trust. The cryptographic evidence exists in the form of transactions that have been recorded and recorded in a program called a blockchain.
Okay, so that's the meaning of Cryptocurrency that I know and I learned.
In the next post I will discuss about the types of crypto money.
What are your thoughts? Let us know in the comment below.
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