The term Cryptocurrency is a word whose origin comes from the English language, to be more specific of the word “cryptocurrency”, in whether it is a digital medium through which exchange transactions are carried out. Cryptocurrency history begins with the currency called Bitcoin being is considered the first of its kind, was created in 2009 and since its inception, have appeared another large amount of foreign exchange of this type each with different characteristics and protocols, among the best known we can mention Ethereum, Dogecoin and Ripple. It should be noted that a cryptocurrency establishes its bases in mathematical algorithms. Although all these currencies have their differences, they always have some aspects in common.
Cryptocurrencies have a large number of servers through which very difficult calculations are carried out and each one of them checks the work of the rest, in addition to producing units of the cryptocurrency whatever it is. The aforementioned process is what is colloquially known as mining work.
In this type of systems in which cryptocurrencies are used, guarantee, security, integrity and balance of accounting are given through a group of elements that are verified with each other, said agents are known as miners, which are made up mostly of the general public and are in charge of actively providing protection to the network, through a high rate of algorithm processing, the main objective of which is to obtain the opportunity to receive a small portion, which is distributed in fortuitous way.
Regarding its history, the start-up and use of cryptocurrency occurs with the creation of Bitcoin, which was born in 2009. The latter has also become the first cryptocurrency in the history of mankind, in the first reference of the same and consequently the most popular among the people in general.
On the other hand, the use of these currencies within the world of illegality, in addition to the fact that it leads to the impossibility on the part of the governmental entities of each country, to establish tax policies that are applied to the various transactions that are carried out by this media, is responsible for a large number of discussions, with Bolivia being the first state to fervently ban the use of cryptocurrencies.
