cryptocurrency


The Term Cryptocurrency is a word whose origin comes from the English language, to be more specific from the word “cryptocurrency”, itself it is a digital medium through which exchange transactions are carried out. The history of cryptocurrency begins with the currency called bitcoin, being considered the first of its kind, it was created in 2009 and since its inception, another large number of currencies of this type have appeared, each with different characteristics and protocols, among the best known we can mention Ethereum, Dogecoin and Ripple. It should be noted that a cryptocurrency establishes its foundations in mathematical algorithms. Although all these currencies have their differences, they always have some aspects in common.

Cryptocurrencies have a large number of servers through which calculations of great difficulty are carried out and each of them checks the work of the rest, in addition to producing units of the cryptocurrency whatever it is. The aforementioned process is what is colloquially known as mining work.

In this type of systems in which cryptocurrencies are used, guarantee, security, integrity and accounting balance are given through a group of elements that verify each other, these agents are known as miners, which are conformed mainly by the general public and are also in charge of actively providing protection to the network, through a high rate of algorithm processing, the main objective of which is to obtain the opportunity to receive a small portion, which is distributed fortuitous way.

As far as its history is concerned, the start-up and use of cryptocurrency occurs with the creation of Bitcoin, which was born in 2009. The latter has also become the first cryptocurrency in the history of humanity. , in the first referent of the same and consequently the most popular among people in general.

On the other hand, the use of these currencies within the world of illegality, in addition to the fact that it makes it impossible for the government entities of each country to establish tax policies that are applied to the various transactions carried out by this medium, is responsible for a great deal of discussion, with Bolivia being the first state to fervently ban the use of cryptocurrencies.​