Economy

What is cryptocurrency? »Its definition and meaning

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Currently cryptocurrency is a term that has become popular with great speed, this is the name that receives a kind of currency, it is a digital medium in which exchanges are made, very similar to what are transactions with real money. The cryptocurrency that enjoys the greatest popularity worldwide in addition to being the pioneer cryptocurrency in its branch and the first to be launched, is the bitcoin created in 2009 and since that moment, a precedent that gave way to the appearance of another large number of cryptocurrencies

Cryptocurrencies allow what is known as the “ Internet of Value ”, in other words, this means that it enables applications that allow the exchange of value in the form of cryptocurrencies. Said value can be contracts, shares, intellectual property, services, among others. In addition, these currencies make it possible for all the commercial activities carried out to be direct, without the need for third parties to intervene, which means that the value is directed directly from the buyer to the seller, thus establishing a system of universal exchange of value free of intermediaries.

With regard to the security that surrounds cryptocurrencies, it is important to mention that, if it is possible to violate it, however, the cost to carry out said action is quite high, so much so that breaking the security of Bitcoin would require a much greater capacity than that of large technology organizations similar to Google.

Among the most relevant and popular cryptocurrencies, mention can be made of the following: Dogecoin, Litecoin, Peercoin, Megacoin and Ripples, just to mention some of the best known. It should be noted that the supply of this type of currencies is increasingly high, and the selection of them exceeds twenty.

On the other hand, with regard to the origin of this type of currency, it should be clarified that before the creation of bitcoin, there had already been several attempts to implement this currency, but without a doubt the one who would give it the final impulse would be the aforementioned bitcoin, which was launched in 2009 by a group of individuals who adopted the name Satoshi Nakamoto.