From the wild west days of bitcoin’s infancy, through the monumental rise in price for an individual unit towards the end of last year, cryptocurrency has gained a significant amount of attention. A form of digital currency that is decentralized and made possible through blockchain technology , cryptocurrencies are often not backed by any tangible measure, but rather traded on exchanges at market value . Over the past year, a few cryptocurrencies have risen into mainstream discussion and others have fallen out of favor. More guides can be found on https://gpucoin.net/
In the case of bitcoin, which is likely to be recognized as one of if not the most successful cryptocurrency from an investment standpoint, its value has been on a decline since December 2017 as well as showing a decline over the course of 2018. While there are many reasons for this decline in value, much of it has to do with the fact that despite its original purpose as a peer-to-peer currency system, bitcoin is now mostly recognized as an investment opportunity . Also known as ‘crypto assets’, cryptocurrencies have expanded into several different niches to include privacy coins , smart contract platforms, and decentralized application coins.
The most significant of these is Ethereum , which was launched in 2015 and started out as a platform for smart contracts built on its blockchain . Known as ‘ether’ , this token has been exponentially increasing in value since inception, and it is now the second largest cryptocurrency by market capitalization behind bitcoin . For those who are new to the world of digital currencies, bitcoin is a cryptocurrency that requires mining, or processing individual transactions from its peers by verifying codes on the network through complex computations. For those who are not interested in using their own resources to mine for bitcoin or other cryptocurrencies , there are several cloud mining platforms available online today where users can buy processing power to mine for cryptocurrencies.
As the interest in digital currencies continues to grow, many are wondering if cryptocurrencies are really here to stay or just a passing fad . If you would like to find out more about cryptocurrency and blockchain technology , there are several resources available online today that provide comprehensive information on this topic. Whether you’re interested in bitcoin, Ethereum , litecoin , or any other form of cryptocurrency, there are reliable resources you can turn to for information.