Cryptocurrency:

In fact digital currencies are currencies that are designed with encrypted protocols and aim to reduce counterfeiting and prevent currencycounterfeiting.Most digital currencies use the blockchain to take advantage of key features such as decentralization, transparency, and immutability.
The decentralized nature of digital currencies means that they are not controlled by any entity, group or organization.
It is possible to use different types of digital currencies for different financial transactions from different parts of the world.

How do cryptocurrencies work?

Public and private keys are required to perform any digital currency transaction on a large scale.
These keys increase the security of operation with digital ciphers. Transactions with digital currencies are performed using transaction path encryption processes.

How are digital currencies produced and extracted?

All kinds of digital currencies are generated by mining by experts who produce them, or in other words, extract them using sophisticated methods and computers.
There is something called hash in the way of extracting digital currency. A hash is actually a mechanism that links each block of information in the Chinese blockchain network to its previous block.
Digital currency miners do their job by generating each block and adding it to the blockchain. Advanced computers are needed to be able to extract digital currencies. In addition, this process consumes a lot of electricity.
The high power consumption used to extract digital currencies has become a major concern for miners, or digital money miners.

Types of digital currencies



Bitcoin:

Bitcoin is a type of digital currency that reached a high level of fame and prosperity when it reached a price of  13,000  $ in early 2018.
Bitcoin was a combination of creativity, overcoming legal barriers, and overcoming intermediaries in various financial and banking affairs that made financial transactions possible at the international level. Therefore, in the short time of his emergence, he was able to attract a lot of attention.
One of the main advantages of bitcoin is that it can be stored offline on a secure piece of hardware. This is called cold storage.
Despite the cold storage, it will not be possible to steal bitcoin and cryptocurrencies.
Bitcoins are placed in digital wallets after exchange.
Each digital wallet is a small database that users store on their computer systems, smartphones and tablets.

 Tron:

This digital currency is a decentralized blockchain-based platform that aims to create a global network of free content sharing in the field of entertainment.
In simple terms, Theron uses  Blockchain technology as a platform for the development of the global market, which includes the world of entertainment, media and a variety of content.
This currency was offered to the developer in 2017 for 0.0019 $ and an initial capital of 70 million $.
Unlike many other types of digital currencies, users can't extract this digital currency

Ripple:

Ripple platform is an open-source protocol designed to perform fast and cheap transactions.
Instead of using China Block Mining, Ripple uses a consensus mechanism through a group of servers to verify its transactions.
 Ethereum
The atrium is the second generation of digital currencies. This new currency was created to make processes smarter and create space for decentralized and automated applications.
Atrium launched digital currencies on July 30, 2015, led by 23-year-old Russian Vitalik Butlin.

Lightcoin:

LightCoin is one of the oldest digital currencies on the cryptocurrency market and was launched by Charlie Lee in October 2011.
One of LightQueen's main goals was to reduce the authentication time of each block from 10 minutes to 2.5 minutes so that more transactions could be verified.

stellar:

Stellar digital currency is another type of currency code that you must know. Stellar is a peer-to-peer network that, like Bitcoin, is decentralized.
Stellar, like other digital currencies, use blockchain technology. In this decentralized network, there is no central institution and decision-maker.

Monero:

Monero is a cryptocurrency and a payment system that operates through the CryptoNote protocol, which is based on blockchain technology.
Monero (XMR) is not just a cryptocurrency; it's also a great investment tool. Many leading experts suggest including XMR in investment portfolios since it's one of the most reliable and confidential cryptocurrencies

References:


Stormgain 


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