Make Money A Day With Bitcoin Altcoins

What Is Cryptocurrency Bitcoin And Altcoins

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

What is cryptocurrency

CoinMama: Buy Bitcoins with Credit Card

This introduction explains the most important thing about cryptocurrencies. After you‘ve read it, you‘ll know more about it than most other humans.

Today cryptocurrencies have become a global phenomenon known to most people. While still somehow geeky and not understood by most people, banks, governments and many companies are aware of its importance.

In 2016, you‘ll have a hard time finding a major bank, a big accounting firm, a prominent software company or a government that did not research cryptocurrencies, publish a paper about it or start a so-called blockchain-project.

What is cryptocurrency and how cryptocurrencies emerged as a side product of digital cash

Few people know, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency.

In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer Electronic Cash System.“

His goal was to invent something; many people failed to create before digital cash.

Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It’s completely decentralized with no server or central authority. – Satoshi Nakamoto, 09 January 2009, announcing Bitcoin on SourceForge.

The single most important part of Satoshi‘s invention was that he found a way to build a decentralized digital cash system. In the nineties, there have been many attempts to create digital money, but they all failed.

After more than a decade of failed Trusted Third Party based systems (Digicash, etc), they see it as a lost cause. I hope they can make the distinction, that this is the first time I know of that we’re trying a non-trust based system. – Satoshi Nakamoto in an E-Mail to Dustin Trammell

What are cryptocurrencies really?

If you take away all the noise around cryptocurrencies and reduce it to a simple definition, you find it to be just limited entries in a database no one can change without fulfilling specific conditions. This may seem ordinary, but, believe it or not: this is exactly how you can define a currency.

Take the money on your bank account: What is it more than entries in a database that can only be changed under specific conditions? You can even take physical coins and notes: What are they else than limited entries in a public physical database that can only be changed if you match the condition than you physically own the coins and notes? Money is all about a verified entry in some kind of database of accounts, balances, and transactions.

How miners create coins and confirm transactions

Let‘s have a look at the mechanism ruling the databases of cryptocurrencies. A cryptocurrency like Bitcoin consists of a network of peers. Every peer has a record of the complete history of all transactions and thus of the balance of every account.

A transaction is a file that says, “Bob gives X Bitcoin to Alice“ and is signed by Bob‘s private key. It‘s basic public key cryptography, nothing special at all. After signed, a transaction is broadcasted in the network, sent from one peer to every other peer. This is basic p2p-technology. Nothing special at all, again.

What is the top cryptocurrencies ?

Bitcoin: Bitcoin was the first and is the most commonly traded cryptocurrency to date. The currency was developed by Satoshi Nakamoto in 2009, a mysterious figure who developed its blockchain. It has a market capitalisation of around $100 billion as of october 2017.

Ethereum: Developed in 2015, ethereum is the currency token used in the ethereum blockchain, the second most popular and valuable cryptocurrency. Ethereum has a market capitalisation of around $20bn as of october 2017. However, ethereum has had a turbulent journey. After a major hack in 2016 it split into two currencies, while its value has in recent months reached as high as $400 but crashed briefly to as low as 10 cents.

Ripple: Ripple is another distributed ledger system that was founded in 2012. Ripple can be used to track more kinds of transactions, not just of the cryptocurrency. It has been used by banks including Santander and UBS and has a market capitalisation of around $67.8 billion.

Litecoin: This currency is most similar in form to bitcoin, but has moved more quickly to develop new innovations, including faster payments and processes to allow many more transactions. The total value of all Litecoin is around $3 billion.

Buy Bitcoin Instantly Here

What Is Electroneum Ico Cryptocurrecy Review Price Prediction

Electroneum is mobile cryptocurrency it mine on a electroneum mobile app available for android and iphone that targets the 2.2 billion smartphone users around the world via a mobile-focused blockchain solution with the explicit intention of capturing the mobile gaming and online gambling market. The initial token offering for Electroneum began on September 14, 2017, and will run through October 31, 2017.

Who’s Behind Electroneum?

Electroneum’s whitepaper describes the team as “an experienced team of software developers.” The team is led by Richard Ellis, who has 20+ years of experience running a digital agency called SiteWizard. In 2013, Ellis founded Retortal. As CEO of Retortal, Ellis offers social media marketing to various companies – including Fortune 500 companies like Herbalife and Avon. Retortal is valued at over $50 million USD today, and the software is used daily by hundreds of thousands of people.

The name of the currency and company, by the way, is derived from “the electron which all cryptocurrencies rely on.”

Electroneum reportedly started working on their own cryptocurrency back in August 2015. They used bitcoin’s open source code as the basis for the currency. The currency had no name for several months, but was eventually named Electron. By July, the company had officially formed under the name Electroneum Ltd. and started actively promoting their upcoming cryptocurrency.

How Does Electroneum Work?

Electroneum makes numerous mentions of it being a mobile-friendly currency. The creators of Electroneum recognize that most of the world has a mobile phone – and approximately 2 billion people own a smartphone. Electroneum is based on harnessing power from all smartphones to power the network. In addition, users can control all aspects of Electroneum from their mobile wallet.

Typically, cryptocurrencies are mined with specialist equipment – like PCs with multiple GPUs inside. Electroneum will allow users to mine the currency with the mobile app.

The company will begin by releasing their iOS and Android app on October 31, 2017, one day after the token sale concludes.

Another key feature of Electroneum is its accessibility. The whitepaper makes several mentions about how bitcoin’s numerous decimal places discourage widespread adoption. Let’s be honest: most bitcoiners are sick and tired of counting up the number of 0s when they’re asked to pay a fee like 0.0000416, or when they see a transaction fee like that. Electroneum plans to have two digits after the decimal (it has a 21 billion total supply of coins compared to bitcoin’s 21 million). That means you’ll see a price labeled as something like “21.39 Electroneum” instead of “0.089151 BTC”.

Electroneum Products

The developers of Electroneum claim to already have numerous working products and platforms in place. They plan to release all of these products immediately after the ICO crowdsale. The products will go live on October 31, one day after the crowdsale.

Products that have already been developed, finished, and tested include:

  1. The Electroneum blockchain
  2. An app-based wallet that allows someone to access Electroneum with zero technical skills or crypto experience
  3. App based mining system that allows non-technical people to gain Electroneum easily
  4. An offline wallet that allows for a completely secure, unhackable, offline wallet to be created
  5. A Windows wallet
  6. A Windows miner, where you can leave your PC mining for more coins at home or the office
  7. Mining pool software (Electroneum runs this software to make mining easier; the software is open source and allows users to develop their own pools)
  8. Blockchain explorer (used to verify payments and examine the blockchain in an open source way)
  9. Third party payment API used to allow third parties to accept Electroneum or pay in Electroneum
  10. The company claims these products give Electroneum a good foundation for launch. However, they plan to raise money through the ICO for an even more ambitious plan.

The Electroneum whitepaper outlines long-term goals for the cryptocurrency based on the amount raised. If Electroneum raises over $40 million, for example, then the company will introduce a whitelabeling system that allows other coins or ICOs to utilize the currency as a base while implementing their own branding.

The Electroneum Crowdsale

The Electroneum crowdsale begins on September 14. During the first week, you’ll be able to buy Electroneum at a 50% bonus rate. You’ll receive 150 coins for every $1 USD you contribute. By the last week of the sale (October 19 to 31, 2017), that rate will drop to $1 USD per 100 coins. Click here to participate

A total of 6.3 billion Electroneum coins will be available during the crowdsale. You can participate using Ethereum, bitcoin, or bank transfer.

You can see below total token sales statistics and people still buying it

Electroneum Conclusion

Electroneum is a cryptocurrency built on the original bitcoin blockchain. The company claims to have already developed a wide range of technical products – including a mining system that can be run from your PC or smartphone to generate currency from your unused processing power.

The Electroneum ICO is taking place throughout September and October. You may want to wait for more technical details about the project to appear online, or proof that any of the products have already been developed. However, if you don’t mind the risk, you can gain bonuses of up to 50% by participating in the Electroneum token sale early.

Electroneum Price Prediction Will Be Update Soon You can subscribe for the notification below