Comand Crypto: What are the cryptocurrencies ?

The term "cryptocurrency" or "cryptocurrency" includes endless restrictions. However, one of the most successful is that, a cryptocurrency is a virtual currency created thanks to computerized code. Similarly, a cryptocurrency is a data string that indicates a unit. The main difference of the latter with specific currencies is that cryptocurrencies are completely decentralized, that is, they are not controlled or supervised by any government, they are monitored by a P2P Internet protocol (which we will talk about later).

These digital currencies are created through a process called "mining", where the records of the operations carried out are added to the public ledger of a certain cryptocurrency. All operations occurred immediately on each of the platforms and are added to the public book, where they can be viewed by anyone on the network.

Transactional properties of cryptocurrencies

Irreversibility
Any transaction that includes cryptocurrencies is irreversible. After the validity of the transaction has been confirmed, no changes can be made. This includes any government entity, the creators of the cryptocurrency with which it operates or the miners, who will not be able to reverse the transaction under any circumstances.

Confidentiality
The use of cryptocurrencies for lawful purposes is done under anonymity. In other words, user accounts and transactions will never be linked to their identity in the real world. In the case of Bitcoins, a string is used that contains approximately thirty digits and that complies with being the address where the cryptocurrencies will be sent or received, better known as a wallet or “wallet” for its translation in English. Users can rest assured that no personal data will ever be in the public domain.

Speed
It will only take a few minutes for the completed cryptocurrency transaction to be confirmed and effective.

Global reach
You will be able to send or receive cryptocurrencies from wherever you are, thanks to the fact that the cryptocurrency network is operating worldwide and allows the use of any computer to enter it.

Unmatched security
The cryptography with which cryptocurrencies operate secures the funds that correspond to each of the users. In turn, these are the only ones that can be accessed using their private key. This cryptography system is considered unbreakable in all the aspects that comprise it.

Without restrictions
You can use cryptocurrencies for the activity you want, as long as it remains outside the law. It is not necessary to process a permit to use the Bitcoins that you acquire, for example. You could download a platform or the cryptocurrency market of your choice (and free) to start exchanging them as you like, from anywhere in the world and without prior authorization.

Comand Crypto

What are the cryptocurrencies ?

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