About

Cryptocurrencies

Cryptocurrencies are digital currencies used on a peer to peer based computer network. Cryprocurrencies are decentralised currencies since they do not require a central unit such as a bank or a clearing house. This decentralization feature is possible because cryptocurrencies are based on the principles of cryptography and integrate the user into the process of issuing and settling transactions. This technology is called the blockchain.
The cryptocurrency world is expanding rapidly with new currencies created every day. The most popular cryptocurrencies are Bitcoin, Ether (the cryptocurrency of the Ethereum platform) and Ripple.
The first cryptocurrency is Bitcoin and was created in 2009 by an person (or a group of people) whose identity has not yet been confirmed and who introduces himself (or perhaps themselves) as Satoshi Nakamoto.
Cryptocurrencies are currently considered alternative currencies since no country recognizes yet their value, their potential and therefore an exchange rate with national currencies.

Blockchain technology

Blockchain is an information storage and transmission technology. Its principle is based on the creation of blocks that contain the information associated with the most recent transactions.

A block contains three kinds of information :

• a hash corresponding to the identifier of the previous block in order to be able to find it and consequently to ensure the continuity of the chain
• a timestamp value
• the informations related to the transaction

A blockchain uses the cryptography principle to secure its blocks. Due to the existence of these scattered blocks through the network, this system does not require a control organ and is therefore decentralized.