Make your crypto work for you!
  • Recursos
    • Cartão Monnos Use suas criptos e receba cashback.
    • Sync Strategy Sincronize com estratégias de traders experientes.
    • Crypto Wallet Gerencie suas criptomoedas por objetivo.
    • Exchange Hub Compre e venda de cripto fácil e rápida.
  • Comunidade
  • VIP Holder
  • MNS Ecosystem
  • PROMOS 🔥
    • Competição de Top Trader Semanal
    • Competição de Top Trader Mensal
    • Competição de Top Referral
  • Português
    • Português
    • English
  • Made with 🎮 in Zug & SP

  • Home
  • Artigos
  • Aprenda sobre Cripto
  • Novidades Monnos
  • E-books

What is the digital currency?

Artigos Comunidade

Por Rafael Serrano

01 de abril de 2020

Desculpe-nos, mas este texto está apenas disponível em Inglês Americano.

Digital currencies are virtual or digital currencies designed to act as a means of exchange. It uses encryption to secure and verify transactions and to control the creation of new units from any given digital currency.

Essentially, digital currencies are limited entries in a database and no one can change them unless certain conditions are met.

History & Transactions

There were many attempts to create a digital currency during the technology boom of the 1990s. With systems like Flose, Penz, and Doggy Cash appearing on the market but eventually failing.

There were many reasons for its failure, such as fraud, financial problems, and even frictions among corporate employees and their supervisors.  It should be noted that all these systems have used the reliable third-party approach, this means that the companies behind them have validated and facilitated transactions.

Because of their failures, the creation of a digital monetary system was viewed as a long-term and critical condition.

Then, in early 2009, an unknown programmer or group of programmers under the nickname “Satoshi Nakamoto” introduced “Bitcoin”.

Satoshi described it as “A Peer-to-Peer Electronic Cash System“.

It is also a completely decentralized, which means that there are no servers involved and no central authority in control. This concept closely resembles peer-to-peer networks for file-sharing.

But one of the most important problems a payment network must solve is double-spending.

This is a fraudulent way to spend the same amount twice. The traditional solution was a trusted third party – a central server – maintains records of balances and transactions. 

However, this method always involves a power that mainly controls the funds and has all personal details.

But, in a decentralized network like Bitcoin, every participant needs to do this.

This is done through the ” Blockchain” technology – it is a general account book for all transactions made at any time within the network, they are available to everyone. 

Therefore, everyone on the network can see the balance of each account. Each transaction is a file that consists of the sender and receiver public keys (wallet addresses) and the amount of money transferred.

The transaction must also be signed by the sender with the private key. All of this is simply an essential encryption. Ultimately, the transaction is broadcast on the network, but it needs to be confirmed first.

Within the digital currency grid, only the minerals can confirm the transactions by solving a spine puzzle.

They take transactions, mark them as legitimate, and then post them across the network.

Then, you add each node from the network to its database. Once the transaction is confirmed, it becomes unrigged and cannot be consulted in this case, the mining operator receives a bonus, as well as transaction fees.

A digital currency grid is based on the absolute consensus of all participants regarding the legitimacy of balances and transactions. If the network contract varies on a single balance, the system will break down essentially.

However, there are many rules that have been pre-programmed and built into the network that prevents this from happening. Digital currencies are also called encrypted because the preservation of consensus is ensured by strong encryption.

This, together with the above factors, makes third parties and blind confidence an entirely redundant concept.

What is the name given to cryptocurrencies and from what was its name derived:

It is called Cryptocurrency in English and it is divided into two syllables, the second syllable is Currency, while the first syllable is the word Crypto, which is an abbreviation of Cryptography.

How do digital currencies work?

Digital currencies are like paper currencies and minerals in their ability to buy with them all physical goods and services.

There are a lot of electronic currencies currently available for trading in the Forex market, and the matter is increasing hysterical, as a result of the law of supply and demand, as the price of Bitcoin for example in December 2017 exceeds 17 thousand USD, and since originally the number of Bitcoin that can be produced is 21 million Only a unit, making competition for it as a currency or product for general investors.

We must also know that cryptocurrencies, in particular Bitcoin, are decentralized currencies, that is, no government or institution can control the production of more of them.

But how to control digital currencies?

Cryptocurrencies are controlled by a technology called Blockchain.

And the blockchain as defined in the book Blockchain Revolution by the author Tabscot and his brother, it’s an electronic book of accounts that cannot be manipulated for economic transactions that can be programmed, not only to record financial transactions but for everything that has value.

Meaning that every economic or financial transaction that occurs on the system is recorded and coded in a block, and linked to other blocks to form a chain of blocks.

The cryptocurrency system or bitcoin system, which is a decentralized system for sending and receiving money, is characterized by:

1) Ultra-fast: where you can transfer money in less than seconds, unlike the traditional bank method that takes days.

2) Very low cost: Bitcoin transfers cost almost free or negligible.

3) Protection and transparency: every economic or financial process, is saved in a block and distributed to millions of computers around the world, which makes the process of its penetration virtually impossible, as the financial process takes place in front of the whole world, which makes attempts to manipulate it impossible.

4) Decentralization: This is not affiliated with any central bank.

Therefore, it can be said that the way digital currencies work makes them very unique compared to the traditional systems of financial transactions, whether online or in real life.

The most famous cryptocurrency:

1)Bitcoin: the most famous virtual currency in the world and the size of the Bitcoin market is approximately $ 233 billion.

2) Ethereum: the second most popular digital and virtual currency in the world and the size of the Ethereum market is approximately 46 billion USD.

3) Ripple: This is considered the third most important and famous electronic currency in the world, and the size of the ripple market is approximately 11 billion USD.

 

By Community member: Dina Mahmoud

Baixe o App Gratuitamente

Escaneie com<br />
a câmera do seu celular

Escaneie com
a câmera do seu celular

Baixe nas lojas

Monnos Make your crypto work for you!
Português
  • Português
  • English
  • Sobre

    • Empresa
    • Taxas e Limites
    • Trabalhe na Monnos
    • Feedback
  • Recursos

    • Sync Strategy
    • Crypto Exchange
    • Crypto Wallet
    • Invite & Earn
  • MNS Ecosystem

    • O MNS Ecosystem
    • IEO – Token MNS
    • White Paper
    • Comunidade
    • VIP Holder
    • Ambassadors
  • Documentação

    • Seu Token na Monnos
    • Liste MNS Token
    • Guia de Estilos
    • Atualizações do App
  • Legal

    • Termos de Uso
    • Política de Privacidade
    • Política KYC/AML
    • MNS Token Holder
    • Restrição de Países
  • Ajuda

    • FAQ
    • Central de Ajuda
    • Tutoriais
    • Free Crypto E-books
    • Monnos News
    • Learn Crypto
    • Contato Comercial
    • Contato de Parceria
  • Acompanhe

  • Nossa comunidade ❤️

Membro da comunidade Membro da comunidade

Escritório Brasil: Rua Flórida, 1738 - 12 andar - São Paulo/SP CEP. 04.565.000 - CNPJ: 31.238.023/0001-62

Monnos indica que as atividades realizadas na Plataforma são consideradas atividades de alto risco, implicando a aceitação, pelo Usuário, da possibilidade de perdas financeiras devido à manipulação de criptomoedas e outros ativos digitais baseados na tecnologia blockchain por meio do uso da plataforma. Ao usar a plataforma, o usuário está ciente dos riscos que o uso de criptomoedas implica.

A plataforma Monnos não é distribuidora de valores mobiliários. Logo, nenhum token espelhado na plataforma representa equity, contratos de investimento coletivo, transferable security ou qualquer outro tipo de ativo considerado valor mobiliário.

Todas as estratégias de trocas de ativos criptografados são de responsabilidade única e exclusiva dos usuário. Você não deve iniciar trocas se não compreende os riscos envolvendo a natureza dessas transações.

Copyright © 2019 Monnos, Todos os direitos reservados. O logotipo da Apple é uma marca comercial da Apple Inc. App Store é uma marca de serviço da Apple Inc. Google Play e o logotipo do Google Play são marcas comerciais da Google LLC.

Feito por 🎮 em Zug🇨🇭& SP🇧🇷

CC GDPR Ready GDPR Compilant

Baixe o App Gratuitamente

Escaneie com<br />
a câmera do seu celular

Escaneie com
a câmera do seu celular

Baixe nas lojas

Nós utilizamos cookies para melhorar sua experiência.Ler Política de Cookies
Aceitar Ajustes
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Estritamente necessário
Always Enabled

Esses cookies são essenciais para permitir que você se desloque pelo site e use seus recursos, como acessar áreas seguras do site. Sem esses serviços de cookies, você solicitou, como cestas de compras ou faturamento eletrônico, não pode ser fornecido.

Cookies de funcionalidade

Esses cookies permitem que o site se lembre das escolhas que você faz (como nome de usuário, idioma ou região em que se encontra) e forneça recursos aprimorados e mais pessoais. Por exemplo, um site pode fornecer relatórios meteorológicos locais ou notícias de trânsito, armazenando em um cookie a região em que você está atualmente. Esses cookies também podem ser usados para lembrar as alterações feitas no tamanho do texto, fontes e outras partes das páginas da Web que você pode personalizar. Eles também podem ser usados para fornecer serviços solicitados, como assistir a um vídeo ou comentar em um blog. As informações que esses cookies coletam podem ser anonimizadas e não podem rastrear sua atividade de navegação em outros sites.

Cookies de desempenho

Esses cookies coletam informações sobre como os visitantes usam um site, por exemplo, para quais páginas os visitantes acessam com mais frequência e se recebem mensagens de erro de páginas da web. Esses cookies não coletam informações que identificam um visitante. Todas as informações que esses cookies coletam são agregadas e, portanto, anônimas. É usado apenas para melhorar o funcionamento de um site.

Save & Accept