Bitcoin and the best cryptocurrencies are easy to handle with WEXO
What are cryptocurrencies?
Cryptocurrencies are named after their use of cryptography and mathematical algorithm. The primary functions of cryptocurrencies are as follows: they are decentralised, transparent, unchanging, and safe, thanks to blockchain technology.
The oldest cryptocurrency called digital gold
Bitcoin was developed in 2009. Thanks to blockchain technology, it is the first decentralized cryptocurrency to start a revolution globally.
Its creator is still anonymous, and we only know it under Satoshi Nakamoto's pseudonym.
Bitcoin is also known as digital gold and, due to its deflationary nature, with clearly defined conditions, is a store of value for many.
What is a blockchain?
Blockchain is a decentralized database containing all transactions of a specific cryptocurrency.
Blockchain is a new technology used by most cryptocurrencies, including bitcoin. In the blockchain network, the entering of individual information is stored in blocks.
These blocks are created by miners and then interconnected according to defined cryptographic rules. Blockchain is also called an open ledger that no one can manipulate, thanks to its decentralized nature.