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What is Cryptocurrency?


Cryptocurrency is a type of digital money, an exchange, a means of exchance, which is not controlled by a central authority, allows the transfer of value from person to person without the need for another authority, and uses cryptographic transactions via the internet.

What is difference between cryptocurrencies and other digital currencies?

The operation and management of the majority of digital currencies other than cryptocurrencies is done by a central authority.

Account records in these systems are stored on the servers of the organization operating the system. Therefore, the security features required for digital money are provided by the IT security infrastructure of the organization that operates the digital currency. Centralized digital currencies are centralized not only in terms of information systems, but also in terms of administration, they are managed by an institution.

The most important feature that distinguishes cryptocurrencies from other digital currencies is that their IT infrastructures are not centralized. Account records are kept on hundreds, thousands, millions of different small servers running a registry software built on cryptology technology.

Each of these servers is operated by different anonymous organizations or individuals. It is not possible to change, delete or transfer the account records in the system to the accounts without permission. With these features, they provide the security requirements that should be in a money without an intermediary institution or person.

What is the trendy term bitcoin lately? Who correctly understands the reality of cryptomoney and bitcoin. Why should people care about bitcoin?

Is bitcoin a profitable investment? We have a book recommendation to find the answer to these questions and understand the reality of bitcoin.

Veteran Wall Street journalists Paul Vigna and Michael J. Casey seek answers to these questions in their book The Age of Cryptocurrency.

“They have written a book patiently documenting the rise of bitcoin, admitting its mistakes and emphasizing its promises. The clever and carefully crafted Cryptocurrency era is the most detailed and readable account of the short life of the controversial currency.”

The Washington Post

“Any other book on bitcoin will need to do a lot more in-depth research before it can be worth reading.”

The Economist

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