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 Why is it called digital or cryptocurrency

Why is it called digital or cryptocurrency

The term cryptocurrency is a combination of cryptography and currency. The encryption of the digital currency in particular and the data in general is done through a hashed encryption algorithm, and this encrypted algorithm is used with advanced and complex mathematical equations to secure the funds, making sure that no one else is able to spend it. There are many encryption algorithms for digital currencies such as the SHA-256 algorithm for Bitcoin and crypto-currencies such as Bitcoin Cash, as well as the Ethash algorithm for Ethereum and Ethereum Classic, and many many other cryptocurrency algorithms.

And you, as a very ordinary user, do not need or require you to take care of all these minute details - because the applications you use are the ones that do all the heavy loads. I mean, on the other hand, you will not know what is going on under the cover. And if you are interested in this type of technology and would like to know more details, an article on this topic will be written and published in the near future, God willing, about what is public key encryption? The history of encryption, symmetric and asymmetric encryption, and digital signatures.

That is why encrypted Internet money (digital currencies) is not owned by any person or entity (companies, institutions or individuals), but encryption is used to secure the system and by a specific mechanism that is proven unanimously or by consensus and it is impossible to hack, close or even forge it. But you do not already have applications for paying people and receiving from them - what makes you, for example, interested in the matter in the first place?

The answer is for very simple reasons, the most important of which are as follows:

You do not need permission, no one can prevent you from using the digital currency because it is a decentralized currency, as we said at the beginning. On the other hand, unlike decentralization, centralized payment services can freeze your bank accounts or prevent any financial transactions to and from your bank account.

Censor-Resistant Due to the way the network is designed, it is almost impossible for hackers or other attackers to close it.

A cheap and fast payment method, when you make a transaction of sending money to someone else even if you are in the far east and he is in the far west, your money reaches him within a few seconds - and at a fraction of the cost of an international wire transfer fee or transfer.

What is the rest of the Bitcoin B story that all people and the world are talking about? It is the original digital currency, and the most popular to date

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