What is a crypto-currency ?

La version française est ici : Qu’est-ce qu’une crypto-monnaie ?

Hello everyone, I will make you from today a daily section to talk about crypto-currencies,

attention, I will not talk about their price, but rather, at first, I will explain the principle of cryptocurrencies, their differences, etc., etc.

In this first article I will explain what cryptocurrency is. Let's start right away !!

What is a cryptocurrency?

So if you read this article it is that you have (probably) already heard about crypto-currencies. But do you really know what it is?

A cryptocurrency is like a classic currency (dollar, euro, pound) but with some differences:

-These are alternatives currencies which means that no bank regulates them;

-They work through a decentralized peer-to-peer service, which means that the information does not pass through a central server.

-To fight against electronic counterfeits, crypto-currencies use a proof of work validation system, users can do it. But what does it gain? will you tell me? Be aware that by doing so, those users who validate transactions are paid with this cryptocurrency. We will come back to this practice called mining in a future article.

What are the advantages / faults of crypto-currencies?

Each crypto-currency is different from the others and therefore has its own qualities and flaws. We will return to several crypto-currencies in future articles. But their common characteristics are their transfer which is fast and feasible from all over the world, when to their main fault is that they are not yet much used and usable but don’t forget that every crypto-currency has others quality and

We ended up with this article summarizing what crypto-currency is. I invite you to tell me in the comments if you do not agree on certain points and to subscribe to my account for new articles goodbye and see you soon.

Ps: I did not use the word bitcoin once, is that not enough reason to upvote? 😉