The question of the day: What are the keys to understanding the cryptocurrency boom?

In 2008, a Japanese user of The Cryptography Mailing List Calling himself Satoshi Nakamoto shared the idea of ​​a system to generate a digital asset that did not exist in physical format, a decentralized and independent currency that did not have to render accounts to banks, governments or other financial entities for its regulation or issuance. This concept would end up becoming a reality and would adopt the name Bitcoin, thus being the first cryptomoney to become popular.

Cryptocurrencies emerge as an alternative in the midst of the financial crisis that was experienced in the United States and various parts of the world at the time they were devised. These currencies work through the blockchain or blockchain, a system in which all operations carried out with the units of a cryptocurrency since its creation are recorded. To exist, this giant ledger operates through a network of nodes, powerful computers found in various parts of the planet, using technology Peer-to-Peer, the same one used by programs like uTorrent or Ares.

These machines work tirelessly to solve complex mathematical operations that allow validating all transactions made with cryptocurrencies. When they do, they receive a quantity of these assets as a reward and this is how more units are issued. This process is known as cryptocurrency mining, a vital activity for the operation of the most popular currencies on the market such as Bitcoin, Binance Coin y Ethereum, but that has been criticized by activists since it negatively impacts the environment due to its high consumption of electricity and consequent carbon emissions.

Thanks to the system they use to function, it is practically impossible for a hacker to modify the network at will since all operations are validated by voting. However, the reason why many eminences in the financial and technological world have cryptocurrencies in their sights is because of their volatility. The value of these currencies is granted by the market itself and its law of supply and demand, so their price can rise and fall exorbitantly several times during the day since there is no regulatory entity to support them.

Although this is the main argument of its detractors, the truth is that cryptocurrencies begin to be accepted by more companies and various agents in the world over time. Currencies such as Bitcoin are already accepted as a form of payment for BBVA, PayPal and MasterCard Therefore, added to the financial projects that involve these digital assets in countries such as The SaviorIt is a fact that the future that awaits this market is promising as long as the investment is made with great care and with the necessary information to make a correct decision.

Worth tens of thousands of dollars today, cryptocurrencies have become the blessing of people in need send money to other parts of the world quickly, but also a headache for various governments such as China, which have already taken measures to limit the operations that are made with these currencies in their territory.

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