The Cryptocurrency Rush: Blockchain Explained

The Cryptocurrency Rush: Blockchain Explained

What is digital currency or cryptocurrency?

Digital currency or cryptocurrency is an independent currency generated through computer code. By respecting a precise protocol, the participants (miners) create a decentralized currency that does not depend on any external body. Bitcoinaka “BTC”,

which has become extremely popular recently, is arguably the most well-known example of digital currency. There are many others such as Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) or Litecoin (LTC) to name a few… Other crypto-currencies more confidential are regularly mentioned on social networks and specialized forums such as Iota (IOT), Dash (DASH), or even Verge (XVG) and are also to be monitored to diversify your portfolio and therefore your “risk” of investment. Many sites and applications exist to follow the evolution of your investments in crypto-currencies. For example, if you download the Coincap application on your mobile, you will be able to follow the

Let’s see how it works

In order to produce a digital currency we use blockchain technology : a chain of data (called blocks) that is constantly expanding. These blocks are linked to each other and secured using cryptography. The blockchain is built in such a way that it is practically impossible to modify the data: the computer code, being open and free for everyone, is a transparent ledger that keeps a permanent record of all the transactions carried out. Since it is impossible to change the data of a block without altering all the following blocks, the cryptocurrency is protected by the majority of the participants on the network.

What are the benefits of a digital currency?

Cryptocurrency allows us to transact over the Internet without going through an intermediary. There is no bank or government that controls digital currencies: so no geographic limits or caps that will be imposed on us. This also considerably reduces the cost of the transfer and can save us unnecessary expenses such as the currency exchange fee during an international transaction for example.

How to mine digital currencies?

Mining , as we have seen above, is the process by which digital currency transactions are secured. To this end, the miners carry out mathematical calculations for the network of the currency in question with their computer equipment. As a reward for their services, they collect the newly minted cryptocurrencies along with the fees from the transactions they confirm. Currently, for bitcoins, this reward is 12.5 bitcoins per block (or $150,000 at the current price). Miners are therefore competing agents whose final income depends on the computing power of their machines.

Why become a Hosteur reseller?

Who can generate cryptocurrency?

Everyone is free to start mining virtual currencies, but as a currency becomes popular, it requires more and more hardware investment. This is why some companies offer to rent the computing capacity of their machines so that their customers can mine even more virtual currencies. Hosteur offers you this type of service: you can therefore rent servers for mining private as well as public blockchains. Just contact us using the button below.

What cryptocurrencies to mine?

This decision depends on the computing capacity of your machine (or the initial investment that you can afford in order to rent equipment). Popular cryptocurrencies like Bitcoin or Ethereum require a very high computing capacity because of the huge competition from all other miners. Nevertheless, they offer you a greater benefit. You can also choose from hundreds of digital currencies like Zcash , Litecoin , Monero , Stratis …

Ripple: The new cryptocurrency at the center of all attention

Created by a Californian start-up, Ripple is a real-time gross settlement system. It allows you to carry out, in a very secure way, almost instantaneous and very inexpensive transactions all over the world. Its protocol is increasingly used by banks or other payment networks such as Western Union for example. This is also the case of the French bank Crédit Agricole, which recently announced that it was going to use the blockchain for its international transfers.

Ripple also has its own currency, Ripple also called “XRP”. What makes the latter particularly interesting is the fact that it does not need to be mined. This is a big advantage for Ripple because it means acquiring it would cost you much less. So you won’t have to make any investments in terms of hardware, electricity or time to be able to mine from a computer.

While there is never a guarantee that an investment will achieve its performance goals, we believe it is worth taking a closer look at Ripple. It is a very promising currency that must be followed in 2019! If you want more information before investing, there are a multitude of sites to learn about cryptocurrencies including this page:https://trading-binaire.com/ripple/ ! You will find information on cryptocurrencies such as Bitcoin and Ripple for example, but also stock market information with news on French and foreign stocks!

Our investment advice

We advise you to invest in several currencies at the same time: in this way you will be able to create a portfolio of diverse and varied crypto-currencies which will allow you to compensate for the potential drop in value between them by the rise of others. Small basic reminder validated by all the experts, do not take disproportionate risks and invest only what you would be ready to lose without harming your lifestyle… Crypto-currencies have experienced an explosion of growth on the 2017 in particular, but also a certain decline since mid-December 2017 for bitcoin, for example. Be a player, of course, because risk always pays off, but be careful with your investments in order to secure your life and your assets!! A good hearer!! 😉

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