Cryptocurrency. New sensation

The concept of cryptocurrency was created in 1991. However, the first real investment was made in 2008 by Nakamoto. The first question arises as to what a cryptocurrency is. It is a financial arrangement where the currency is transferred between two parties. Problems arose at first, such as the double-error method, or the problem was later solved by concepts such as blockchain technology. The whole process is controlled by cryptographic algorithms. A number of public-private keys are transferred between the two parties. The details of each transaction are stored in each block և for each customer; The blockchain forms the complete list of transactions. All the blocks together form a block chain. These blockchains are nothing but a financial book. The strength of this new currency trading system depends on the strength of the cryptographic algorithm. The introduction of algorithms like DES has strengthened the confidentiality of each financial transaction (blockchain). However, the concept has not yet been approved by many countries. The data of each block can not be changed retrospectively or without network consent. The share of cryptocurrency is not so big at the moment, but it is expected to increase over time.

Some of the features of cryptocurrency are:

• Decentralized

• Distributed

• Public register

The most important aspect of cryptocurrency is the above, but technology requires security for effective use. There have been problems with a double error in the past, but now that problem is solved. The biggest advantage of cryptocurrency is its ability to update without touching the central server. So we do not need to make any changes to the server. In addition, the transaction can be made between any two, three or more members of the network.

Thus, the different advantages obtained through cryptocurrency are the following:

• Safe

• Fast

• Reliable

• Accurate

However, technology has evolved or it is not accepted by all countries. The biggest sensation of cryptocurrency is bitcoin. It is accepted by many countries. Similarly, you can find many other types of cryptocurrencies. Each of them uses a unique type of algorithm. You can learn everything through coding. This is a huge topic, կիրառ the use of cryptocurrency is one of the major breakthroughs of the last decade. Application may quadruple in the coming years.

Digital currency is additionally used as part of dubious settlements such as online illegal businesses such as Silk Street. The first Silk Street was closed in October 2013, and since then two of these horses have been used. In the year following the major closure of Silk Street, the number of unmistakably faded markets increased from four to twelve, while the number of drug placements rose from 18,000 to 32,000.

Darknet markets show legitimacy challenges. Bitcoins և The different types of digital money used as part of gloomy markets are not explicitly or legally ordered in all parts of the world. In the US, bitcoins are called “virtual resources”. This kind of dubious arrangement weighs on the powers of the competent authorities around the world to adapt to the exchange of moving drugs in gloomy markets.