What & How?

What is Cryptocurrency?

Currencies are all about pay or exchange value. Since the beginning of mankind there was always ask and demand. Bag of flower against some pounds of meat, bread against a few apples. Value of exchanges goods is valued between humans. Untill the time came that money in metal form became the system followed by paper and the worst of all an autograph which is another word for signing guilt which been camouflage in words as credit (wonder if anyone knows who created this system? well i know but let’s skip this for now). So currencies are nothing more than a value that is is determined by humans. The today money we use to pay is an unfair system that is hurting people worldwide and playing tricks on the way we are thinking about value. The founder of Bitcoin knew this and search a way to replace a system to get rid of two things: Centralization and regulation. (Read “What is The Blockchain?”)

Currencies like USD, GBP, EU and etc. are FIAT currencies and regulate by a central banking system. A monetary system that can pull a scam which the people has no control when there is corruption. That is why Centralization and regulation has to go, these things only exist to control and steel. So replacing this by a new system without those two things was a digital currency. To create a digital coin it must be possible to own it is yours and need to be secured. That is how and why a digital coin or currency is secured by a code. It is an Encrypted Digital Coin which became a Cryptocurrency. So de first Cryptocurrency made was Bitcoin.

As the first Cryptocurrency it is the mother of all digital currencies so beside Bitcoin there are other’s. That are named Altcoin’s for being an Alternative Digital Coin or Currency. You can find a chart with the Top 100 of cryptocurrencies available. Beside Bitcoin (mother) and Altcoin’s there are also Tokens. These are currencies but not really coins because they does not been created as a coin on it’s own Blockchain and Eco-system but created by or from an existing.

Bitcoin White Paper