How to ensure crypto or not. It seems that the EB needs to create some sort of specialized guide to this. Besides of course, Indonesian characters are quite "special". On the advice of some friends in social media as well, it is necessary to create a kind of guidance so that the general public can more easily distinguish the actual cryptocurrency, and where the cryptocurrency is just a mask.
Currently, there has been quite a lot of outstanding claims as a cryptocurrency. The term well known to the cryptocurrency community about this is the Shittcoin Era. In general, they only use it as a mere guise of cryptocurrency. Trying to take advantage of the opportunities behind the popular cryptocurrency that begins with Bitcoin. Most of these claims, using the pyramid scheme pattern, and pursuing the benefits of the new members. Like the pattern of pyramid schemes in general, always culminate collap in the end.
Before we discuss how to ensure crypto or not, understanding bitcoin thoroughly is certainly the right thing to do. Because after all, new cryptocurrency that many emerging also can not escape from bitcoin.
Meaning of Cryptocurrency
Simply put the term cryptocurrency is indeed appearing after the bitcoin is introduced. Satoshi Nakamoto at the time introduced Bitcoin was not considered a currency, but rather as a peer to peer based electronic payment system. About this, it can be seen in his paper on Bitcoin. When many people in the community are able to see the function that can be a medium of value transfer and also able to store value, people begin to tether predicate as a currency.
Although Satoshi Nakamoto never talked about as a verbal currency, the reality is that it is capable of functioning just like that. The characters to be considered as currency, relatively in favor of Bitcoin. On the other hand, many also assume that the predicate as a currency actually reduces the essence of Bitcoin thoroughly. Because it is considered to narrow the role of bitcoin is much broader than just as a currency.
Although the crypto project before bitcoin has been widely used, however, the bitcoin era crypto is a great breakthrough. Especially how an electronic payment system can run without having to rely on any party and authority. Since then the term "Cryptocurrency" in the bitcoin era and thereafter became increasingly popular.
Since then, many scientists, researchers, academics, and so on around the world are increasingly interested in studying, and researching further. Pre and cons go along the road along. But in the end, more and more people in the world are able to see the potential in it. There are so many benefits that can be used as lessons, used to be applied in many areas.
People can see all of these things because of the inherent transparency of viscous bitcoin. Studies and research on bitcoin and blockchain that turn back is also quite scientific. That's of course because the branch of cryptography in bitcoin and cryptocurrency plays a major role. This underlying science branch is the mouthpiece of the term cryptocurrency. Crypto is cryptography, and currency is currency. So of course, cryptocurrency is a cryptographic-based currency.
Decentralization So The Main Foundation
If we have understood that the era of bitcoin to be the current benchmark of cryptocurrency, then the character that can not be separated is how decentralization can be achieved in the system. Cryptocurrency that comes after it, or what is commonly called altcoin, is similarly based on the same thing. Call it like Litecoin, Dogecoin, Ethereum, and many others, the same also put forward about decentralization.
It is not about avoiding authoritative authorities in the background. But on the security side of the layered if cryptocurrency can run completely decentralized. The assumption is of course, the authorities actually become a source of weakness, the entrance to all the problems, the object of fraud, many security holes and so forth.
All node nodes, are both central to each other's control. Being the front guard of the passage of consensus that has been agreed upon and executed and adhered to jointly. With equal position and position with each other. This, of course, became the most solid fortress, able to overcome various problems that had previously become the most feared ghost in electronic payment systems.
Over time, there have been many modifications, many developers are trying to innovate, filling in various things about cryptocurrency.