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What are cryptocurrencies?

Jeam L by Jeam L
abril 16, 2023
in Tecnologia
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What are cryptocurrencies?
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Cryptocurrencies are a digital medium of exchange. The first cryptocurrency that began to circulate was Bitcoin back in 2009, and since then many more have emerged.

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A cryptocurrency or cryptocurrency is a digital medium of exchange. The first cryptocurrency that began to circulate was Bitcoin back in 2009, and since then many more have emerged.

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Bitcoin has been the kick of this trend, which will undoubtedly mark the future of the coming decades.




Unlike a physical bill or currency, a cryptocurrency is a digital asset that is stored in an electronic wallet (Wallet).

At the time of writing this post, there are more than 800 cryptocurrencies available to invest.

Each cryptocurrency, like «real» currencies, has an exchange rate, given by the perception of value of the community that uses it to trade.

Most of the financial analysts and experts consulted agree that cryptocurrencies is a trend that is here to stay, although it has many aspects to improve, including security and the high level of speculation that exists.

In the list below you can see which are the 10 cryptocurrencies with the highest market capitalization as of May 19, 2017. At the moment, Bitcoin remains firm in the number 1 position.

What are paper wallets?

Paper wallets are the safest way to store cryptocurrencies, as only you are in control of the money. It can be said that you are printing your own tickets.

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Paper wallets are the safest way to store cryptocurrencies, as only you are in control of the money. It can be said that you are printing your own tickets.

A paper address is made up of a  public key  (Share) and a  private key  (Secret). The public key is the one you will share to receive the money, while the private key is to use the funds.

You should never share the private key (Secret) with anyone, since anyone with minimal knowledge can steal your money. It is as if you gave a ticket to a stranger… Do you think he would return it to you?

You can generate your paper addresses to print Bitcoins from the   bitaddress  site.

In case you want to save a significant amount of money in your paper Wallet, you should do it with a script that runs directly on your computer and disconnected from the Internet. This way you make sure that he had no contact with the network.

All cryptocurrencies have the ability to generate their own paper address. For example, if you wanted to make one for Dogecoin you enter  WalletGenerator  and generate one in seconds.

As you can see, it is the same procedure for all cryptocurrencies.

Tomorrow we are going to publish a post where we will explain step by step how to import a Dogecoin paper address to a wallet on your Smartphone.

Did you find the information useful to generate a paper wallet?

  • YES  (81%, 107 Votes)
  • More or less  (17%, 22 Votes)
  • NO  (2%, 3 Votes)

Litecoin, a cryptocurrency with high potential

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Litecoin is one of the first cryptocurrencies, launched back in October 2011.

It is estimated that 84 million Litecoin will be issued, 4 times more than expected for Bitcoin.

Until a month ago, Litecoin averaged US$4, to jump to US$35, and everything seems to indicate that it will continue to rise.

In November 2013, Litecoin reached its all-time high of $50, before falling sharply in 2015 to just over $1.

The truth is that in the last month Litecoin has multiplied its value by 9, the big question being…  Are we facing a speculative movement or a possible Bitcoin?

What is Peercoin?

Peercoin is the first cryptocurrency based on a combined proof-of-stake (PoS) / proof-of-work (PoW) implementation. Its release was on August 12, 2012.

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Peercoin is the first cryptocurrency based on a combined proof-of-stake (PoS) / proof-of-work (PoW) implementation. Its release was on August 12, 2012.

Peercoin is one of the truly unique alternative currencies. Although its code is based on Bitcoin, Peercoin is the first cryptocurrency to introduce proof of minting to secure the network.

The minting of coins in Peercoin has a reward of 1% per year. You can get more information on its  official site  .

Other great advantages of this cryptocurrency is its speed to make transfers, as well as its low cost.

Until now, more than 24 million Peercoins have been issued.

In the next few hours we will publish another post explaining step by step how to invest in Peercoin.

As of June 2, 2017, Peercoin ranks 47th in market capitalization .

What is Cryptocurrency mining?

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In the current monetary system, governments print money, which is legal tender and is used to buy goods and/or services. In the world of cryptocurrencies, money is not created, but discovered. This process is known as mining.

Miners get cryptocurrency rewards every certain amount of time, once a math problem is solved.

Currently, specialized hardware for this type of process is available, which is very expensive and takes time to recover the investment.

The video below illustrates how Bitcoin mining works .

How does mining work?

Cryptocurrency users send virtual money from one side of the planet to the other all the time, but unless someone records those transactions, no one could verify a payment at a given time.

Cryptocurrency nodes leave all payments recorded on a chain of blocks, better known as the Blockchain .

The miners job is to confirm the transactions and write them to the blockchain.

Every time a shipment of some cryptocurrency is made, a small commission is charged to be able to pay the miners.




Surely by now you are wondering…  How do we make sure that the Blockchain remains intact and nobody manipulates it? This is where the miners start to play.

When a transaction block is created, miners create it by following a process.

They take the information from the block and apply a mathematical formula to it, turning it into something else.

This new “piece of information” is shorter and appears to be a random sequence of numbers and letters, technically called a “hash” .

This «hash» is stored with the block, at the end of it, last in the chain at that time.

Every time someone successfully hashes they are rewarded with the cryptocurrency they are mining.

We hope the explanation was easy for you.

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