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Introduction to Cryptocurrencies.
If you are like me, finding out about the phenomenon of an internet currency has been a fascinating new discovery, and you’re now interested in learning as much about it as humanly possible. However, there is so much information floating around about this new market that it can get a bit confusing.
Trust me I know the history and the principles of cryptocurrency market and I will share them with you right now. Just breathe deeply, relax, and read the provided information. I got you covered! In this article, you will learn the very basics about the Cryptocurrency Market. You will also learn how easy it is to get things started and you will NOT need any extra cash to do it.
If you already have a good understanding of how the market works then you can skip to learn how you can get started here.
So by now you must have heard words like BLOCK CHAIN, BIT COIN, and ETHEREUM being thrown around. But what does it all really mean? Let’s first start by defining these terms.
Let’s Get Acquainted With Cryptocurrencies Closer
First and foremost, a cryptocurrency is a fast and reliable system of payments and money transfers, based on the latest technologies and it is not controlled by any government. Initially, cryptocurrencies were in demand only among mathematicians, cryptographers, and people keen on computer and network technologies.
Then the cryptocurrencies served as a proof that electronic money without guaranteed security is possible. Rather, they can be called an electronic analog of gold. At the moment, there are two models in the crypto space that can change the way we interact with the Internet and everyday life: these are decentralized markets and the transfer of funds.
Ever since the times of the cipher, a dream of a decentralized digital market hasn’t ceased to worry a lot of people. The decentralized market is a network of people who make deals among themselves without the need for a centralized location or third-party arbitration. Various technologies and software allow users to interact autonomously among themselves.
Ethereum is a modern platform for creating decentralized online services based on the blockbuster, working on the basis of smart contracts. It is constructed as a single decentralized virtual machine. Being an open platform, Ethereum greatly simplifies the implementation of blocking technology, which explains the interest not only from
new start-ups but also from the largest software developers such as Microsoft.
Ethereum technology makes it possible to register any transactions with any assets on the basis of a distributed base of contracts like a blockade, without resorting to traditional legal procedures. This possibility is competitive with respect to the existing transaction registration system. According to The Economist magazine, the technology of “smart contracts” marks a new era in financial technologies.
The First Cryptocurrency Bitcoin
Bitcoin was the first cryptocurrency created in 2009 and it is now widely used and accepted by over 100,000 business. What is the most significant feature of Bitcoin? This is a digital product with limited supply, its algorithm is arranged in such a way that there can be a maximum 21 million of units in the system, each of which is also called bitcoin.
After the last coins are generated, their number will not change. Bitcoin’s economy is built on a deflationary model, which, however, have concerns among many economists.
What is Bitqyck?
I’m sure you are probably thinking I wish I knew about this sooner. But it’s not too late because I know a way that you can get coin currencies and GUESS WHAT GUYS? You DO NOT need to SPEND any extra CASH to do it. You can get coins by doing things you would do on a normal basis. Everyday task such as going to the gym, dentist or even going out to eat.
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Check out this 15:51-minutes video on how it all works.