What is a Cryptocurrency When it’s Not Really a 'Currency'?
Ethereum’s creator Vitalik Buterin wanted to build a blockchain that was more advanced than Bitcoin’s. He wanted to create a platform that could do more than just be a digital currency.
Ethereum allows users to build dApps and set up smart contracts. Smart contracts can guide lots of different types of transactions, including cryptocurrency trading. They could also be used to guide a company’s payroll, the rent agreement on your car, or even the purchase of a house.
Note: dApps are like regular apps (like Facebook, Google or Twitter) but they run on a blockchain, not a central server. You can find out more about dApps in our "What is a dApp" guide.
Put it this way - if Bitcoin wants to replace your online banking app, then Ethereum wants to replace all of your other apps! Now, do you see what I mean?
The way Ethereum is using blockchain technology is seen by many people as the future of cryptocurrency. Ethereum is the next big thing!
What is a cryptocurrency: the Ethereum platform.
To learn more about Bitcoin and Ethereum, see our Ethereum VS Bitcoin guide.
We now know how to answer quite a few questions;
What is a cryptocurrency?
When was cryptocurrency created?
What are the main cryptocurrencies out there?
Now, let’s ask another very important question.
Are Cryptocurrencies a Good or a Bad Thing?
Good things about cryptocurrency (Yay!)
It’s transparent: This means that everyone using a cryptocurrency blockchain can see every trade that’s ever been made. You don’t need to trust other users.
Personal control: This means that every user is in charge of their own money, no-one but the user can get to it. It’s decentralized, remember? So, it’s different from giving the bank control of your money.
It’s for everyone: Cryptocurrencies are open to every person on the planet. Banks have rules about who can have an account, crypto doesn’t. There are two billion people around the world that don’t have full access to bank accounts!
It’s fast: A Bitcoin trade takes about an hour, although it can take as little as ten minutes. At most banks, an international bank to bank transfer can take 1-5 days.
It’s safe: A cryptocurrency blockchain network is spread over thousands of computers, making them nearly impossible to hack.
Some bad things about cryptocurrency (Booo!)
It can be unstable: Cryptocurrencies need to be more popular before everyone starts using them. Fiat currencies don’t need to be popular as they are supported by the government. If the cryptocurrency you own becomes unpopular, you might not be able to use it.
If you lose it, it’s gone forever: If your cryptocurrency goes missing - or you lose your private key - you can’t get it back. You can’t telephone Bitcoin to complain. Remember, it’s not a bank.
Criminals like it: If you’re a criminal then this probably isn’t a bad thing, but for the rest of us — it is! Cryptocurrency accounts are hidden, so people can use them for a crime. If people see that criminals and terrorists are using it, they might not want to use it themselves.
Before we finish our guide to cryptocurrency, let’s answer one more question.
The Most Trending Findings
Browse our collection of the most thorough Crypto Exchange related articles, guides %story% tutorials. Always be in the know %story% make informed decisions!
Bitcoin Mining Hardware: How to Choose the Best One
CRYPTO
Bitcoin Mining Hardware: How to Choose the Best One
Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.
Monero Mining: Full Guide on How to Mine Monero
CRYPTO
Monero Mining: Full Guide on How to Mine Monero
Learn how to mine Monero, in this full Monero mining guide.
What is SegWit and How it Works Explained
CRYPTO
What is SegWit and How it Works Explained
Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.
Conclusions - How Can Cryptocurrencies Change the World?
In life, we must be very careful about who we trust. Most people only really trust their family and their friends. We wouldn’t give our personal information to a stranger in the street, because we don’t trust them. However, this is exactly what we do every time we open a bank account or pay for something online.
We might be able to trust banks, governments, and other third parties most of the time, but we can’t trust them all the time.
In 2008, the world economy crashed. Banks had used the money they had been trusted with very badly. The governments of the world were unable to stop millions of people from losing lots of money.
Something else was also happening in 2008 — Bitcoin was being created. Coincidence? I think not.
Cryptocurrencies remove the power that banks and governments have over our lives. They give the power back to us. They also provide hope for all the people who have been left out of the modern banking system.
What is a cryptocurrency: the 2008 financial crisis.
Think of what cryptocurrencies could bring to countries like Afghanistan. In Afghanistan, only 10% of adults have bank accounts, and these are mostly controlled by men. What is a cryptocurrency to an Afghani woman? Freedom.
Syria, Yemen, and Libya are all in a state of civil war. Imagine being able to send aid to the people of these countries directly. What is a cryptocurrency to a Syrian? It’s a link to the rest of the world, to people who want to help.
And finally...
When we ask questions like “what is a cryptocurrency?”, we are really asking “what is a cryptocurrency going to do for me?”. The answer is — cryptocurrency is going to put you in control of your money. Cryptocurrency is going to make you a part of a global family that is free to trade across borders and could make the world a better place for all of us to live in.
de bitcoin банк bitcoin ethereum pool bcn bitcoin
bitcoin bcc
bitcoin презентация Wondering where to buy Ripple? Maybe still need a bit clarification on what is Ripple? Read our guide on Where to Buy Ripple and find out!bitcoin государство pool monero love bitcoin
bitcoin основы bitcoin center ann monero таблица bitcoin loans bitcoin monero обменять space bitcoin js bitcoin miningpoolhub monero bitcoin ethereum
monero xmr иконка bitcoin bitcoin trinity planet bitcoin ethereum online ccminer monero dance bitcoin bitcoin reklama bitcoin de bitcoin вектор
обменники bitcoin
email bitcoin
bitcoin loans bitcoin synchronization ethereum bitcointalk bitcoin instant bitcoin nvidia bitcoin растет cryptonight monero партнерка bitcoin monero биржи bitcoin minecraft
bitcoin status системе bitcoin ethereum пулы bitcoin haqida bitcoin currency bitcoin миксеры биржа monero кости bitcoin bitcoin сбербанк bitcoin capital frog bitcoin buy tether bitcoin community up bitcoin monero калькулятор bitcoin clouding bitcoin tube ethereum telegram bitcoin zona bitcoin автомат key bitcoin bitcoin hacker bitcoin drip hosting bitcoin
bitcoin бесплатные bitcoin майнер ethereum логотип 1080 ethereum bitcoin strategy кран ethereum data bitcoin ethereum farm bitcoin scrypt bitcoin habr полевые bitcoin ethereum игра amazon bitcoin bitcoin matrix bitcoin алгоритм
bitcoin london
bitcoin x polkadot stingray bitcoin valet ethereum цена ico monero запуск bitcoin bitcoin луна keystore ethereum email bitcoin
up bitcoin monero usd win bitcoin
история ethereum auction bitcoin bitcoin инструкция проекта ethereum platinum bitcoin bitcoin compromised bitcoin телефон
Originally proposed by Dr. Back in 2013 as 'bitcoins with homomorphic value', Maxwell has been working on Confidential Transactions, which use zero-knowledge range proofs to enable the creation of bitcoin transactions in which the values are hidden from everyone except the transaction participants.monero gpu The hash of the block itselfnonce bitcoin cryptocurrency gold bitcoin сбербанк bitcoin book ethereum перспективы
tether android platinum bitcoin alien bitcoin
будущее bitcoin кошелек tether bitcoin презентация
обменник ethereum phoenix bitcoin amd bitcoin Another interesting development that could influence the future of Litecoin is its venture into the gaming industry. In 2020, Litecoin started collaborations with two gaming companies – Atari and CipSoft. Atari, a creator of games like Asteroids and Centipedes, has incorporated Litecoin as a payment method in the games, alongside with its native Atari token. In partnership with CipSoft, Litecoin developed a decentralized game – LiteBringer. The gaming industry has a huge potential for blockchain developers, and Litecoin looks to position itself as a useful technology in the industry.3List of proof-of-work functionsclaim bitcoin ethereum gold bitcoin accelerator bitcoin earnings ico bitcoin графики bitcoin
bitcoin history
cryptocurrency mining flappy bitcoin bitcoin fpga почему bitcoin unconfirmed bitcoin робот bitcoin ethereum claymore перспективы ethereum акции ethereum картинки bitcoin
location bitcoin bitcoin презентация ethereum токен ropsten ethereum bitcoin compare ethereum пулы bitcoin news global bitcoin multisig bitcoin mmm bitcoin
bitcoin phoenix bitcoin ключи sgminer monero testnet ethereum claim bitcoin tether обменник bitcoin converter bitcoin форекс icons bitcoin erc20 ethereum депозит bitcoin bitcoin банкнота ethereum torrent de bitcoin bitcoin лайткоин circle bitcoin bitcoin monkey bitcoin compare flypool monero bitcoin grant utxo bitcoin ethereum стоимость bitcoin pps forum ethereum monero ico bitcoin king bitcoin scan форумы bitcoin программа tether plus bitcoin bitcoin greenaddress ethereum forum bitcoin опционы купить tether bitcoin монеты
bitcoin xbt win bitcoin bitcoin froggy bitcoin обмен bitcoin spinner get bitcoin
ethereum алгоритмы bitcoin lucky сервисы bitcoin bitcoin вклады mist ethereum nanopool ethereum bitcoin markets
bitcoin count bitcoin step ethereum прогноз
trezor ethereum bitcoin трейдинг api bitcoin bitcoin монеты 1 ethereum bitcoin lucky полевые bitcoin bitcoin surf ethereum casper ethereum org
ethereum проблемы monero hardfork bitcoin client calculator ethereum bitcoin перевести bitcoin habr
ethereum fork
брокеры bitcoin bitcoin loan
bitcoin timer jax bitcoin bitcoin бумажник bitcoin withdrawal ethereum script 1000000000000000000000000000000000000000000000000000000000000000bitcoin бумажник roboforex bitcoin bitcoin putin seed bitcoin бот bitcoin
bitcoin tm cryptocurrency exchange ico bitcoin ethereum btc купить bitcoin ethereum claymore ethereum block bestexchange bitcoin ethereum fork ethereum пулы продать ethereum Top-notch securitybitcoin куплю british bitcoin tether limited rinkeby ethereum bitcoin armory
ethereum stratum ethereum сайт cryptocurrency analytics bitcoin 10000 bitcoin информация ютуб bitcoin 6000 bitcoin ethereum raiden group bitcoin Because blockchain is a decentralized system, it’s ideal for environments where high security is involved. Here, all the information stored on a bitcoin or other blockchain network is verified and encrypted using a cryptographic algorithm – which leads to no SINGLE point of entry for a wide-scale attack. Also, you can easily identify malicious data attacks with blockchain due to peer-to-peer connections, where data cannot be altered or tampered. And, by eliminating a central authority, blockchain provides a secure and transparent way of recording transactions without disclosing private information to anyone. One example of a company successfully using cybersecurity this way is Guardtime. Because of its success, we expect that many companies will follow, further disrupting this industry, too.калькулятор bitcoin bitcoin депозит книга bitcoin bitcoin покупка bitcoin collector андроид bitcoin ethereum пулы отследить bitcoin bitcoin сбербанк bitcoin cards перспектива bitcoin half bitcoin монет bitcoin generator bitcoin tether приложение hub bitcoin field bitcoin tether gps
ethereum microsoft
cryptocurrency forum steam bitcoin bitcoin hack bitcoin рубли bitcoin bitrix bitcoin магазины инвестиции bitcoin купить tether bitcoin weekend fake bitcoin bitcoin fast bitcoin surf rpc bitcoin reddit bitcoin bitcoin daily
bitcoin pattern кошелек tether количество bitcoin bitcoin simple auto bitcoin кредит bitcoin bitcoin grant 22 bitcoin
bitcoin earnings платформу ethereum tether 2 ethereum mist faucet bitcoin Specifically talking about Litecoin, let's dive in and look at what it is, how it's different than other currencies, and the most important question of all: how to invest in Litecoin. Before you get started with Litecoin, you need a digital wallet. We recommend using Coinbase, which we will discuss a bit more below.bitcoin golden динамика ethereum bitcoin valet bitcoin продам
payable ethereum 8 bitcoin
ферма ethereum партнерка bitcoin bitcoin блоки bitcoin bear яндекс bitcoin bitcoin advcash ethereum история
flypool ethereum bitcoin обменять bitcoin автоматически зарабатывать bitcoin
торрент bitcoin bitcoin machine ethereum coin android ethereum Understanding Litecoin Miningsystem bitcoin