Surely Bitcoin is the cryptocurrency you’ve heard the most about. The reason for the fame of this digital currency is that it is the pioneer, in 2008 it was created by several people under the name of Satoshi Nakamoto. Of course, in its launch it did not have the value that it has now and most could not even think that it would reach this data.
No doubt this currency has positioned itself as a leader in the digital market and can be a great investment for this year. However, it has suffered great ups and downs and it is difficult to know when it will go up or down. Therefore, we propose other cryptocurrencies that are worth paying attention to.
Today there are more than 2,500 virtual currencies around the world and rising. In addition every so often a new one appears, which is created by a process called ICO.
What differentiates all these currencies is the technology, the encryption and the philosophy they use. Most crypto currencies use Blockchain technology, but it is not the only one. As for philosophy, it can be said that there are as many as coins.
With the creation of new cryptocurrencies, new platforms have appeared to send, receive and buy different types of cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin. We are talking about Coinbase, a platform and digital wallet that allows to operate with cryptocurrencies in a simple and safe way.
The latest news of the BlockChain boom increasingly predicts the consolidation of virtual currencies, despite falls like the one suffered at the beginning of 2018. This does not mean that they are not safe or profitable, only that we must consider at the moment that find to take advantage of their potential. We tell you what are the criptodivisas of the moment and the ideal to invest this 2019.
The cryptocurrencies are virtual coins. They can be exchanged and operated like any other traditional currency, but they are beyond the control of governments and financial institutions.
There is a large number of cryptocurrency available, all with their own characteristics and applications. Those that have greater market capitalization are – at least for now – a minority, which includes bitcoin, bitcoin cash, ether, litecoin, ripple and dash.
What is mining cryptocurrencies?
Minar cryptocurrencies is the process through which cryptocurrency transactions are verified and new units are offered.
The objective of the miners is to collect the latest transactions in blocks (that is, verified sets of transactions) and find a solution to a complex algorithm. Doing this you get a reward: a fixed amount of cryptocurrency. This amount varies according to the cryptocurrency in which you work; The bitcoin reward, for example, is currently 12.5 bitcoins.
The solution to this algorithm is a continuous process and depends on the results of previous algorithms to perform the following calculation. In the same way, the difficulty of the algorithm can be (and is) adjusted frequently, in order to make the work of the miners constant – and even if the processing capacity is improving. This is similar to the rate at which raw materials such as gold enter the market (hence the term ‘mine’).