Cryptocurrency and cryptocurrency mining (mining)

2017 was described as the year one for cryptocurrencies, and it is certain that cryptocurrencies will become even more familiar in the future.

|What is cryptocurrency

What is cryptocurrency? It is a “currency” that is “virtual.”

As the term “currency” suggests and as with Bitcoin, cryptocurrency is money.

It can be used as a medium of exchange among unspecified many people for goods and services, and

it can be exchanged for currencies issued or managed by public authorities such as central banks, such as existing currencies like yen, dollar, and euro, which do not correspond to the cryptocurrency itself.

Of course, it can also be used directly for settlement.

Recently, the total market capitalization of cryptocurrencies has surpassed 300 billion dollars, and the market is expected to grow by tens to hundreds of times in the future.

This is anticipated.

Generating cryptocurrency using blockchain, a revolutionary system that has no issuer such as a central bank, can be done by anyone.

Anyone can do it easily.

What is blockchain

It is a database technology that stores data by generating a block of transaction data at fixed intervals and

linking them in a chain in chronological order to form a chain

to store data.

What makes blockchain groundbreaking is that data tampering becomes virtually impossible.

It has been called “the greatest invention since the Internet.”

It is said to have the potential to fundamentally transform finance.

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|What is cryptocurrency mining?

Cryptocurrency mining, in simple terms, is to start and run mining machines, and you can obtain cryptocurrency.

The mechanism of mining is the “verification work of transaction records” stored in the blockchain.

A record of how much was transferred from person A to person B is written into a block, and

that transaction is verified through mining. Cryptocurrency that uses the blockchain operates without a central server and with a distributed network of block-like computers (servers).

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