Cryptocurrencies are digital assets designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.
Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin’s blockchain transaction database in the role of a distributed ledger.
In the modern world, cryptocurrencies have become a part of our lives. ONLINICO believes that money transfers with cryptocurrencies are faster and cheaper than bank wire transfers. Or, at least, they used to be faster and cheaper. A couple of months ago fees for small amounts of money have become comparable to fiat transfers.
We are pleased to announce that the first INSANE BYTE’16 Conference will be held in Kremenchuk on the 11th of June, 2016.…