cryptocurrency
A cryptocurrency or criptodivisa (English cryptocurrency) is a digital means of intercambio.1 The first cryptocurrency which began operations was Bitcoin in 2009,2 and since then have appeared many others, with different characteristic and protocols as it can be litecoin, Ripple, dogecoin, GCRcoin or Onecoin as the latter based on Network marketing for marketing. When comparing an cryptocurrency with fiat money the most notable difference is the way that no group or individual can accelerate the production of money and use it illegally or abusively significantly, since only a certain amount of units is generated collectively, to a speed which is limited by a previously defined and publicly known value. [citation needed]
They have dozens of different specifications criptomonedas appeared, but most of them are similar to or derived from the first that has been fully implemented; the Bitcoin. In systems you criptomonedas the security, integrity and balance of their accounts (accounting) is guaranteed through a network of agents (transfer segmented file or file transfer multisource) that are verified (distrustful) mutually called "miners" , which are mostly public and actively protect the network (the network) by maintaining a high rate of processing algorithms, in order to have the opportunity to receive a small tip, which is distributed randomly. [citation needed]
Breaking the existing security in a cryptocurrency is mathematically possible, but the cost to do so would inasumiblemente high. For example, an attacker who tried to break the POW system (test work) Bitcoin need greater computational power than the whole network (network-emjambre) of all "miners" system, and even then only would have a probability of success of 50% (#ronda authentication), in other words, break the security of Bitcoin would require a higher technology companies Google sized capacity. [citation needed]
It is planned that in future quantum computing to become a reality, which upset the balance if developers can not implement on time the system to use post-quantum algorithms for being a technology propietaria.3
History [edit]
The first attempts to integrate electronic money cryptography was made by David Chaum, by DigiCash and ecash, which used cryptography to return money transactions anonymous, but with an issue and settlement (payment) centralizado.4
The concept or idea of cryptocurrency was first described by Wei Dai, in 1998, where he proposed the idea of creating a new kind of decentralized money he used cryptography as a control means 5 while the first cryptocurrency that was created was Bitcoin , created in 2009 by developer pseudonym Satoshi Nakamoto, which uses the set of cryptographic functions SHA-2 (exactly the SHA-256) as its POW (proof-of-work) 6 7 subsequently scheme have appeared other criptomonedas as Namecoin (an attempt to decentralize the system DNS domain names, which would make it very difficult to censor the Internet), litecoin (which uses scrypt as POW (proof-of-work) scheme, as well as to take confirmation faster transaction), peercoin (which uses a hybrid scheme POW / POS [proof-of-work / proof-of-stake], also has an inflation rate of around 1%) and Freicoin (which he implemented the concept of Silvio Gesell adding demurrage [a kind of cost for having the money].) 8. Many other criptomonedas have been created, but all have been unsuccessful, especially those who have not provided any innovation.
In his nearly seven years of existence, the criptomonedas have gradually gaining the attention of the general public and media comunicación.9 Since 2011, interest has increased rapidly, especially during the rapid rise of Bitcoin in April 2013 .
Controversies [edit]
Using these criptomonedas in illegal activities, and the inability of governments to establish tax policies on transactions made through this medium, is controversial. Bolivia has become the first country to explicitly prohibit the use of criptomonedas in June 2014.10
