Found 43 Articles for Cryptocurrency

Bitcoins are created by Satoshi Nakamoto, in 2008 whose identity is still a mystery, whether it is one person or a group of persons. Satoshi Nakamoto proposed Bitcoin as a means of exchange, independent and secure and also a limited number.Now the question comes, Why limited supply?The most important feature of Bitcoin is that it is decentralized. No Central authority will keep a check on its demand or supply. Satoshi has created an open source code which is maintained by a group of volunteer programmers and runs as a distributed network with nodes spread across the world. We know that ... Read More

When you talk about trading of Cryptocurrency, the following transactions will come under that category.Buying new cryptocurrency using your fiat currencySelling your cryptocurrency for fiat currencyExchanging one type of cryptocurrency for another digital currencyTo make these transactions, there are Cryptocurrency Exchanges.If you just want to make the occasional, straightforward trade, there are also platforms that you can use that do not require an account.Cryptocurrency ExchangeThese are the websites which allow you to buy, sell or exchange the digital currency. All you have to do is to choose an exchange, create an account and get your id verified, and you are ... Read More

Bitcoin, invented by Satoshi Nakamoto in 2008 has ushered new waves in the field of cryptocurrencies. Inspired by Bitcoins and decentralized peer-to-peer network, there are many digital currencies that came into the world to change the global economy.Let us first understand what is a cryptocurrency? Cryptocurrencies are the digital currencies which are generated, stored and transacted digitally. The most important feature of cryptocurrency which makes it different from fiat currency is, that it is not created or maintained by any single central authority. It is created and maintained through a decentralized system which is maintained by the miners. The miners ... Read More

SegWit is an acronym for Segregated Witness and is a solution to a flaw in the Bitcoin protocol. It actually changes the way data is stored. A developer Pieter Wiulle first brought up this idea at the Scaling Bitcoin conference in 2015. This was considered as the much-needed breakthrough to bitcoin’s scaling problem. 1MB is the maximum block size in the key protocol and it inhibits the number of transactions bitcoin can process to roughly seven per second. This was going to confine bitcoin’s prospective growth, and restrict it from turning a fit-for-use high-volume payment system.The upgrade, however, enables a ... Read More

First, let us understand that Ripple is both a currency as well as a platform. Its platform is an open source protocol, which is created to allow quick and inexpensive transactions. Quite contrary to Bitcoin that wan never intended to be an easy payment gateway, the power of Ripple will surely make it rule all the international transaction worldwide. However, nothing firmly can be claimed about its future at the moment.Ripple comes with its own currency (XRP) but also allows everybody to use the platform to create their own via RippleNet.What Is RippleNet?It is a network of institutional payment-providers including ... Read More

Before you make your mind to go for crypto mining, you must get an in-depth clue of how can you utilize your money as well as other weapons. It is a fact that a huge sum goes into the expensive bitcoin ASICs. If you can bear the expenses, well enough but if you do not then you must know that it requires building a GPU miner for scrypt currencies. There would also be the requirement of a small ASIC machine for bitcoin or other SHA-256 currencies.Puzzled? Do not be. This guide will let you know how to mine your crypto ... Read More

Bitcoin wallets come on different platforms with different features. There is not “one size fits all” concept.Bitcoin wallet can be set up electronically either on your mobile or desktop. It is an application or a program which allows you to send or receive Bitcoin cash, and keep track of your transactions and history. The software program stores the private and public keys and interacts with various block chains to enable the users to send and receive digital currency and also monitor their balance. If you want to store and use the crypto currency you need a Digital Wallet.They are downloaded ... Read More

What is a Bitcoin?Bitcoin is an electronic payment system through a secure, verifiable and mathematical way. It is created by Satoshi Nakamoto in 2008 to produce a new means of exchange of money, independent of any centralization or central authority, which can be done electronically.Traditional currency is printed and distributed by the Government based on demand and supply in the market. Bitcoin is introduced as a peer-to-peer currency without any central authority or any government body to issue the Coins and track their transactions.What is MiningWhere do the Bitcoins come from when there is no central authority to create and ... Read More

Just like our fiat currency, we have dozens of cryptocurrencies which are ruling the digital world now. Litecoin is created based on an open source cryptographic protocol and was started in October 2011 as an early bitcoin spinoff. It is a decentralized money, free from censorship and used to send secure payments digitally.According to the market capitalization, LiteCoin is the third largest cryptocurrency after BitCoin and XRP, and like other cryptocurrencies, Litecoins does not allow transactions in US Dollars. They conduct transactions in Litecoin units.The total number of Litecoins that can ever be mined is capped at 84 million. The ... Read More

We know that bitcoins enter into the digital market only through mining. It is a cryptocurrency created as a peer-to-peer currency which can be traded without using any Bank or Payment gateway. When these transactions are made, they are accounted for using a publicly distributed ledger which keeps a record of all the transactions made to every Bitcoin.Every time a transaction is made, a new block is created. Every new block will be verified and added into the block chain by the miners. Here comes the purpose of hash functions to make the block chain secure.What is a Hash?Hash is ... Read More