CRYPTO CURRENCY NEWS | vibesoundtz.blogspot.com

Cryptocurrency means both cryptographic currency and a peer-to-peer payment system. They are therefore virtual currencies in the sense that they are characterized by a lack of physical support: neither coins nor tickets and payments by check or credit card are not possible either.

These are alternative currencies that do not have legal tender in any country of the globe. Their value is not indexed to the price of gold or that of conventional currencies nor are they regulated by a central body. And yet, security and transparency are their main assets! Indeed, cryptography secures transactions that are all verified and registered in a public domain, ensuring both confidentiality and authenticity, thanks to blockchain technology.

The blockchain: basic technology of crypto currency

Crypto-currencies are all based on the same principle: the blockchain. Crypto currencies are a sequence of numbers stored on a computer in the form of block strings. The principle is actually quite simple and particularly well explained in the article published in Les Echos Bitcoin and crypto currencies, new digital parts: "Take a database. Allow anyone to make changes to this database, only if you declare yourself a member. Put in place a very long and very complex control procedure that must be performed whenever a certain number ("block") of changes is requested. This procedure is carried out not by a single controller, but by all voluntary "members". Once validated, the "block" of changes is dated and added to the others in the registry. Finally, allow the registry to be read to everyone, and you have a blockchain database. "

Blockchain and bitcoin: revolutions in finance?

Ranking of the virtual currency according to its market valuation

The main cryptocurrency is Bitcoin, which has just had a fork in early August. A dispute in the Bitcoin community about the speed of transactions led to the birth of a new currency: Bitcoin Cash, which immediately rose to third place in the Top 10 cryptocurrencies.

Indeed, in parallel with Bitcoin, there are many other crypto currencies such as Ethereum for example, which also experienced a "fork" last summer. We can also mention Monero, ZCash, Litecoin or Ripple. It should be noted that crypto currencies are numerous, that new ones can emerge and challenge the heavyweights of the sector but also that disagreements within a community can lead to a "fork"  a split within the community and creating a new currency from the old technology but making changes.