Most popular cryptocurrency, which initiated the development of all these digital money. Creator is a certain group of people, called Satoshi Nakamoto. The creators of the open source have provided BTC for his creation, which will continue to have other programmers to create on this basis, other top cryptocurrency and develop them. One of the names bitcoin, Â«e-gold", appeared in considerable due to the high cost of the same coin and complexity of mining new. Issue of Bitcoin is limited to 21 million.
To generate the currency used for solving complex formulas and calculations, complex and often of the same type, and calculating hashes, as evidence of the work done by each node of the network involved.
Laytkoyn based Charlie Lee, who previously worked on Google, was launched in 2011. The basic idea of the top cryptocurrency - to become a similar alternative to silver in the market of digital money, given that bitcoin is associated with the price of gold. It was attached cryptocurrency LTC has the popular name of "electronic silver." The cost lower and is about $ 33. The emission is limited in the amount of 84 million.
In the process of mining used a simple list of calculations cryptocurrency and encryption, allowing you to speed up the time of receipt of the same coin is about four times. In addition the program are constructed to not to provide distinct advantages to owners of specialized computer systems, put on a par with ordinary users.
The third most popular top cryptocurrency PPC was established on the basis of open source Bitcoin is a direct heir of his. In comparison with the rest of the list cryptocurrency Praymkoin has no limit on the number of coins created. The limiter serves as the annual inflation rate of 1%.
Attractive to users is an approach which resulted in income of each coin is distributed not only among miners, and all other participants in the system, that is, their respective owners. The price fluctuates around 6.04 dollar values.
A copy that is a fork from the original top cryptocurrency bitcoin and litecoin, appeared in 2013. Positioned as the successor laytkoyna it only has increased four times the emissions and a much lower price - 0.5 dollars.
To make the currency more popular FTC was launched and distributed information about the burglary at the dawn of its emergence, this despite the fact that originally it was identical as in the base currency bitcoin. This was followed by a statement that the principle of the creators of the redesigned security have compared all systems and said that now is the most secure fezerkoin cryptocurrency. In parallel with these statements is constantly spreading messages about vulnerabilities and laytkoyna Bitcoin.
The point of vulnerability lies in the fact that the system is easy to crack, having control of 51% of its productive capacity. In a real situation, it is not achievable idea, because the performance is already widespread Bitcoin hundreds of times greater than the overall performance of supercomputers.
One of the most unique aspects of Bitcoin is that you can generate it through the process of mining, which is something anyone with a computer can do. This is unlike fiat currency which can only be printed by the government. This makes Bitcoin somewhat similar to gold and other precious metals, since they can only be mined, not printed on demand. Bitcoin mining is far different than extracting resources out of the Earth however. Instead it involves your computer solving complex equations. The equations solved during Bitcoin mining are cryptographic hashing functions, which are usually referred to as hashes. Here are some photos Bitcoin Mining farm:
What is a Satoshi?
A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC. Use the Converter to find out how much your balance is worth!
Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin miners. While developers are improving the software they cannot force a change in the Bitcoin protocol because all users are free to choose what software and version they use.
In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
Is Bitcoin really used by people?
Yes. There is a growing number of businesses and individuals using Bitcoin. This includes brick and mortar businesses like restaurants, apartments, law firms, and popular online services such as Namecheap, WordPress, and Reddit. While Bitcoin remains a relatively new phenomenon, it is growing fast. At the end of August 2013, the value of all bitcoins in circulation exceeded US$ 1.5 billion with millions of dollars worth of bitcoins exchanged daily.