Cryptocurrencies And Blockchain
Cryptocurrencies are systems that allows for the secure payments of online transactions that are denominated in terms of a virtual token. The first cryptocurrency to capture the public attention was “Bitcoin” which was launched in 2009 by a group or a person named Satoshi Nakamoto. Bitcoin’s success has created a number of competing cryptocurrencies such as Litecoin , Ethereum , Ripple and many more, Today, there are literally thousands of cryptocurrencies in existence.
Cryptocurrencies’ Blockchains are secure, but other aspects of a cryptocurrency ecosystem are not immune to the threat of hacking. In Bitcoin’s 10-year history, several online exchanges have been the subject of hacking and theft, sometimes with millions of dollars worth of ‘coins’ stolen. Still, many observers look at cryptocurrencies as hope that a currency can exist that preserves value, facilitates exchange, is more transportable than hard metals, and is outside the influence of central banks and governments.
Cryptocurrencies’ Blockchains are secure, but other aspects of a cryptocurrency ecosystem are not immune to the threat of hacking. In Bitcoin’s 10-year history, several online exchanges have been the subject of hacking and theft, sometimes with millions of dollars worth of ‘coins’ stolen. Still, many observers look at cryptocurrencies as hope that a currency can exist that preserves value, facilitates exchange, is more transportable than hard metals, and is outside the influence of central banks and governments.
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