The world of cryptocurrencies, which has become very popular in recent years, attracts more and more investors every day. This technology, which continues to add new investors to its structure frequently, is also becoming the focus of attention of many corporate companies from investment companies to banks.
You can find the answer to the question of what you need to know to understand the crypto world, which is one of the most popular areas of the technology world, in detail in this article.
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What is Cryptocurrencies ?
Cryptocurrencies that entered our lives with Bitcoin in 2009 are completely digital and encrypted virtual currencies that can be used in exchange transactions. Cryptocurrencies, which use the science of cryptography in terms of security, are extremely secure financial assets. These currencies, which do not have any physical equivalent, have a decentralized structure. That is, it cannot be controlled by the state or authority. This allows cryptocurrencies to be more secure.
What is cryptology?
We said above that the security of cryptocurrencies is provided by the science of cryptology. So what is the science of cryptology, how does it ensure the security of cryptocurrencies? Cryptology is a science of encryption. In other words, it is the encryption of data according to a system. In this system, cryptocurrencies are transferred through the creation and decryption of passwords on the medium.
When did cryptocurrencies first appear?
The emergence of cryptocurrencies, which has been the focus of attention in recent years, dates back to 2009. The emergence of cryptocurrencies took place with the leading cryptocurrency Bitcoin. Created by Satoshi Nakamoto in 2009, Bitcoin is known as the first decentralized cryptocurrency. In fact, the starting point of cryptocurrencies is the history of Bitcoin. The identity of Satoshi Nakamoto, known as the creator of Bitcoin, is unknown.
Are cryptocurrencies safe?
Cryptocurrencies that are not managed by a central authority are highly secure digital assets. They are not under the influence of any state or administration. The basis of its security is the blockchain technology behind it. The biggest risk that these assets face is the disappearance of crypto assets that are not transferred to virtual wallets with computer damage.
What is blockchain technology?
Blockchain, a special type of database, is a type of technology that entered our lives with Bitcoin. In this technology, which we can briefly describe as a distributed database that provides encrypted transaction tracking, transactions are recorded in decentralized and distributed ledgers. This technology, which is built in a chain manner but allows transactions that can never be changed and tracked, allows transactions without being tied to a center.
What are the advantages of cryptocurrencies?
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