Eric Singleton Explains What Cryptocurrency Is And Its Mining Procedure

Simply put, cryptocurrency is a virtual currency that is intended to be safe and, in some cases, deniable. It is closely related to the web, which uses cryptography to track all transactions and purchases made. Cryptography is primarily a method in which decipherable text is transferred into a code that cannot be cracked.

Eric Singleton says cryptography has a long history dating back to World War II when there was a need to interact in the most secure manner potential. Since then, it has evolved and is now digitized, with various aspects of computer science and mathematical hypothesis being used to secure internet activity, money, and information.

The initial cryptocurrency:
The first cryptocurrency, launched in 2009, is still widely known around the world. Since then, many more cryptocurrencies have been invented, and there is now a multitude of them available on the web.