On these and other premises, we have seen how other alternative currencies have evolved technologies that distinguish them from each other, with different aims or simply imitations, so there are certain main principles that need to be recognised since they will be repeated in the future.If you would like to learn more about this, click reference
For its reception to the public, Bitcoin appeared with a very enticing feature: Who discovered new coins was a succulent commission. When did new coins come to light? Solving such mathematical operations with increasingly powerful computers, called Hash. This method is called the Mining method. There are 21 million Bitcoins, only 5 million of which are to be found, and each time you need more computing power to solve these operations and discover new currencies. The amount of computing required today is such that the energy used to process this information already exceeds the annual electricity costs of dozens of countries around the world, and a serious shortage of hardware (mostly graphics cards with strong GPUs) to solve hashes in an increasingly efficient way.
Not all digital currencies can be mined as some of them come to the market with all the block capitalization that produces two currency groups: those that can be mined and those that cannot.
One of the most important hypotheses posed by the Bitcoin scheme in 2009 has been its identification and confirmation of the currency transactions. All transactions are documented in a consolidated, decentralised, and public book (database) and validated. This is precisely one of the transparencies and security characteristics on which most of the Cryptocurrencies are based and, if one day a coin is made for the digital coin market, this feature would almost certainly be present.
It is a digital portfolio where our coins are stored. — currency has its own programme that allows us to import our wallet onto our device (through robust security measures) and keep new coins under our power.
There are also online portfolios (exchanges) that allow us to trade currencies with other users around the world in an enormous digital currency market where many millions of dollars are moving every minute, besides saving our money.