𝐖𝐇𝐀𝐓 𝐈𝐒 𝐀 𝐂𝐑𝐘𝐏𝐓𝐎𝐂𝐔𝐑𝐑𝐄𝐍𝐂𝐘
Okay, well, let’s start with a very common question among friends and family who don’t know e-currencies: What is a cryptocurrency? A cryptocurrency is exactly like any other currency in the world.
It’s the same for the peso for the dollar or even for the euro. The difference is that it has no physical form, as the name implies, than your currency or digital currency. This refers to being in an intangible form, not a physical form. All transactions that take place with these currencies must be through the Internet, through the Internet, using any device, a computer can be your cell phone or any other electronic device that can be connected to The net. The first currency created, the first cryptocurrency created, was Bitcoin.
This was created by Satoshi Nakamoto in 2008 and well, the name of Satoshi Nakamoto is maybe just a nickname, a nickname, because you don’t know if he is a person, if he is a group of people or an organization. Consequently, they are unknown and it is not known who this person really is then. But look, in 2008 they arrived to deliver this version of the digital currency, Bitcoin, after going through one of the most shocking economic crises in the history of the financial system.
This was America’s housing crisis, the chaos that caused the global economy to collapse. After that, Satoshi Nakamoto no longer needs to hand over this blockchain and Bitcoin technology to democratize money, to take power away from those responsible for central systems as well as the governments or banking institutions that regulate the economic system. Satoshi Nakamoto comes to give us this so that we can transfer value from one person to another without using these types of institutions.
So this happened in 2008 and the purpose of this is to transfer value from one person to another using the encryption technique. Well, this is a super efficient system, it’s a very, very secure system. The topic of cryptography is a very broad topic. In this course, we’re not going to go into this in detail because it’s very, very broad. We invite you to investigate a little more about this, but in a nutshell it is a system that uses codes and privatizes a lot of privacy, a lot of security to prevent withdrawals and that way I can transfer value with you as well as you with someone else, it doesn’t matter let it be on the other side of the world.