basic information about crypto money for beginners

One of the most popular agenda items of recent years is crypto money. Although these new crypto currencies, which have entered my life about 8-9 years ago, have been developed quietly for a while, they have attracted a lot of attention from the heads of state to giant investment companies for a few years.

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We will try to address the important details of cryptographic currencies, which are still a big question mark for those who are a bit far from the technology and internet world and end users, and under different headings. In this way, we will have a series that everyone can understand the crypto money more easily, but also we will clarify what the people who want to be actively involved in this topic will be able to understand the crypto money even in the technology mosque.

What is Cryptology?

When talking about crypto currencies, first of all, “crypto / cryptology” is of benefit in bringing it clear. Cryptology is a science of cryptography. We can also describe the process of encrypting data (text, numbers or any message) according to a specific system, sending it to a receiver via a secure medium, and revealing the data by decoding this encryption system.

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How did the crypto money first appear?

We know from the history books that the basis of the monetary system we use is revealed by the Lydians. How did the crypto money come out first? Probably one of the biggest secrets of the internet world right now is who did the first crypto money, bitcoins? As the founder of Bitcoin, all sources point to the name “Satoshi Nakamoto” but the interesting thing is that it is unknown who or what this name represents. Bitcoin Sahoshi Nakamoto is an open-source software developed by a person or group that uses nicknames (as BitCoin is the first and most widely adopted cryptographic currency we can call the crypto currency). Although many rumors are circulating, it is unclear at this moment who or who is the counterpart.

How is the crypto money produced?

An authority or a ruler was attached. This is the union of the money. United Nations. The first thing we need to know is that its crypto currency has a certain production limit. If we take Bitcoins as an example, the first published protocols will contain only 21 million bitcoins. In other words, there is a limit in terms of production. For this reason, his last days are increasing in demand for this money because it is getting harder and smaller pieces are breaking up.

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The crypto coin production process will be in the form of mining (mining), literally, if the production process will return. This is being attempted to be solved by the software compiler. We can say that everyone is working the most for the right to solve and produce. Yes, one of the manufacturers and the technological systems you need.

crypto money safe?

We can say that the crypto money is fundamentally safe because it can not be managed by a central authority. The biggest risk they face is that your mines in your physical computers – your crypto money – can be lost if they are not transferred to a virtual wallet. Another threat is not hacking. Because of the transaction volume that exceeds the billions of dollars, crypto money can be attacked too much. Of course, you can also suffer from these attacks, but I think that this risk does not make much sense in terms of the risks we face in every aspect of life.

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The basis of the security of crypto money is based on a technology called “blockchain“.

What is Blockchain?

Blockchain, which is the word meaning “block chain”, actually means this. We have previously shared a technical definition as a “decentralized database that provides encrypted transaction tracking” as an article by itself. The blockchain, most commonly known as bitcoin, is a technology that can be used anywhere that is actually “data”. At Bitcoin, blocks may contain information about crypto-currency exchange, but it may be the patient’s smallest medical knowledge in the healthcare sector as another area of use. Since this system is used in blocks and distributed, it becomes impossible to follow. Information from you is not accessible, managed, or redirected by anyone until you reach the other party and the codes match and this information becomes apparent.

If we take into account the blockchain technology used in BitCode, the money exchange information is carried on the blocks and the correctness of each transaction is provided by the so-called miners who solve the problem to win “bitcoin“. So the accuracy of the process is definite.

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Bitcoin Values

Today’s favorite innovations include Bitcoin currency. Being preferred by more and more people every day, Bitcoin attracts attention because it is easy to manage. This currency, like the others, has its own stock exchange. This market, which is traded on a daily basis, accommodates many changes.
The bitcoin value is always different. so there is no exact result about the bitcoin value but I know the bitcoin value is calculated
calculation of bitcoin value with simple shear

1 Bitcoin = 1 Bitcoin is equal, while 0.01 is called Bitcoin = 1 bitcoin. If it is 0,001 bitcoin = 1 bit is bitcoin. Bitcoin at a rate of one million is defined as = 1 micro bitcoin.

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How does BitCoin work?

This currency works according to a different algorithm than every software. A public key cryptography technique is used for payments made. In this system where technologies like Proof of work are also used, many innovations attract attention. At the same time, this virtual currency is not affected by inflation. It is known that all currencies outside of Bitcoin are affected by inflation. Due to the resulting loss of value, 10-fold expansions occur. Since Bitcoin currency has a structure limited to only 21 million, inflation is showing a durable structure over time. In this respect, it has a more advantageous structure than other currencies. It is important to note that the volume increases slightly with each passing day.


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