Suppose you have money, but not in the pocket. The money was not kept in the bank or in the box. Has been kept on the internet You can not touch any day to keep it online. The currency of the virtual world is called digital currency or virtual currency.
Digital currency interchange is online. All information in exchange is kept secret, most of the time it is unknowable. This type of digital currency is called cryptocarrency. Cryptography is a method used in exchange for such currency. In this method, the current language or code written in a code is written in a code that breaks the information is almost impossible to reach. That is, it is very difficult to obtain any shopping or fund transfer information for anyone other than the user in the cryptography procedure.
Yet the biggest theft in the history of digital currency has happened last Friday. Digital currency currency worth $ 53.4 million was hacked by hacker computers and internet networks in Tokyo-based digital currency exchange company Copychenk. Twenty two thousand 60 thousand customers have been affected. However, the company said that the affected customers will be given back 90 percent of the lost money. Hacking has come under the pressure of network security in connection with money laundering.
During World War II, the cryptography system was discovered to secretly and securely communicate. Improved cryptography with the development of mathematical theory and computer science. It was thought that the preservation and sharing of digital currency online was safer.
Of course, despite the security of so many security in the last few years, a number of thefts occurred in various exchange organizations of the digital currency. Bitcoin has emerged as the world's first digital currency in January 2009. Currently there are more than a thousand cryptococconsumers on the Internet. CameCheck has been stolen from a little known coin, Neem. In December last year, a company of Slovenia named Snehasash was stolen $ 10 billion of Bitcoin. Bitcoin Stolen In 2016 Earlier, in 2014, currency exchange was stolen from another exchange company MTGX. 40 million dollars were stolen from their network. After accepting the theft case, the organization ceased to exist.
What are the digital coins?
There are now more than a thousand cryptococarons in the world. However, the following digital coins are at the forefront of the exchange rate:
Bitcoin: Bitcoin is the most popular among the cryptococarons ever seen. Its exchange value is the highest. Satoshi Nakamoto made Bitcoin in 2009. Until December 2007, Bitcoin market capitalization was about $ 230 billion. A bitcoin exchange price was about $ 20,000 a few days ago. However, this rate of exchange value decreases by almost 30 percent this year.
Etherium: Atherium made in 2015. Like Bitcoin, this currency has its own accounting system. It is in second place in exchange price. Bitcoin is popular in terms of etherium. Until December last year, the capital of this virtual currency market is about 67 billion dollars. But after hacking in 2016, it was divided into two currencies. In recent times its exchange rate reached $ 840. However, after the victim of hacking, every sale of atherium was sold at 10 cents.
Ripoll: Ripple was established in 2012. Not only cryptococcerns, other types of transactions can be made in this system. Different types of banks are also using this digital currency. There are 10 billion dollar capital on the market.
LightKayen: Lightweight with Bitcoin, Lightweight, But in lightcayane transactions can be faster than Bitcoin. Its market value is about 5 billion dollars.
How does digital currency work?
The Telegraph report states that cryptocarrency uses a decentralized technology. Using this technology can be easily paid online. Keeping the depositor's name secret and leaving the bank is not possible.
According to the BBC report, the government or any institution does not print digital currency like conventional currency. Each digital coin was created in a complex calculating system called 'Mining'. Every transaction of all cryptococcensities is monitored through a wide network connected with numerous computers spread around the world. This broad network is called 'Blockchain'. Using this blockchain technology, it is possible to buy bonds, stocks and other financial assets, including general transactions.
Users can also buy different digital currency from online brokers. This currency can be kept in a safe place called 'cryptographic wallet' online.
The more currency that a particular digital currency is, the currency market price increases. Thus, the exchange rate of various cryptococcensis, such as the stock market, is steadily fluctuating. According to the BBC report, the use of digital currency is often seen in criminal activities, because the user identity is completely hidden.
Why is cryptococoncy used?
The Telegraph report says that strict security in identity and transaction system - these two factors are the main reasons for being caught in the cryptococcern or virtual currency. It is difficult to bring it back once it is in the system. At the same time, it has gained more reliability for customers due to low transaction costs. Its technology is decentralized means that the digital currency is close to everyone's hands. Where there is no account of opening of accounts in banks or other financial institutions in the current currency, no customer receives the services.
Another reason for being attracted to the cryptocoresses market is that there is a great opportunity to invest in less investment. Because, the exchange rate of cryptoCarrences is more than the conventional currency. So there is also the opportunity to become rich overnight. That's why, in recent years, the amount of investment increased in Bitcoin or other top digital currencies.
But it has the opposite direction. That is, if you get the opportunity to become rich as the price increases, then you can get down on the road when the price goes down. Because of the strict secrecy, there is a cryptocarrency at the top of the choice of illegal activity-related transactions. So investors need to be careful about these issues.
