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Cryptocurrencies are a type of digital currency, which are those that do not exist physically but that serve as an exchange currency, allowing instant transactions over the internet and regardless of borders. Other types of digital currency are virtual currencies (usually controlled by developers), electronic money and internet coupons. Visit this site to know about lotto results.
Throughout history, there have been multiple means of exchanging goods and services. All of them have undergone evolutions and changes or, directly, have disappeared. This is the case of bartering or the use of precious materials, which gave way to the system that until now has worked, bills and coins.
However, in an era where technology is gaining more and more ground every day, a medium of exchange more adjusted to the times is necessary: the cryptocurrency.
Following the Cypherpunk movement in the 80s, the Cryptocurrency emerged. This art defended the widespread use of writing with secret clues that could only understand who knew how to decipher them.
A decade later, David Chaun created Digicash to provide a centralized electronic money system that allowed for more secure and anonymous transactions. In the same period, Adam Black proposes Hashcash, a proof-of-work system to control spam and denial of service attacks.
Although it would not be until 2009, when Bitcoin emerged, the first fully decentralized cryptocurrency.
Advantages of cryptocurrencies
The main advantages that characterize the cryptocurrency are:
Low transaction costs: As a result of the absence of intermediaries.
Insurance: Each currency belongs only to its owner.
Transparent: Transactions are incorporated in a free access registry.
It accumulates in a tiny space such as a USB.