The first ideas for cryptocurrency were offered Wei Dai and Nick Szabo in 1998, but at that time their electronic money is not received proper distribution, see the development of computer technology is not possible to use this method throughout. Their theory and development inspired the creation in 2008 of the most popular to date cryptocurrency Bitcoin. The extensive development of mobile devices with Internet access, peer to peer networks, low-cost network connectivity from service providers and the relatively low cost of computer hardware necessary for the existence of cryptocurrency made the idea a reality.
WHAT cryptocurrency?
So cryptocurrency are special electronic money. Each unit which is encrypted, changing information, which is virtually impossible to copy.
To begin to use them, simply install itself on a computer or mobile device software wallet. You can get electronic coins as payment for goods or services, or a change in the real money.
Electronic coin (or fractional parts of) does not exist physically, and even represent a certain number. This is a set of encrypted information, which changes each time it is transferred to another owner, the chain recorded and saved the transaction from the first user to the very last. When transferring coins from one address to another, a new transaction, which is recorded in the general chain of transactions.
When you install a program-purse, it is assigned a specific address, or rather a set of characters of a certain length.
All transactions are open and are as follows:
Cryptocurrency main feature is that there is no definite single center that can issue currency, to set its course, such as control over its quantity. Any cryptocurrency initially decentralized. All transactions on the exchange, storage and release are performed by computer system peers. Since this currency is in no way guaranteed, the decision to use it or not, you take yourself.
