Cryptocurrency: There were some reasons for this igneous invention

July 26, 2017
571 Views

The crypto currency was introduced in the year 2008, I believe, the freedom of expression, privacy, safety from any attacks, free from the middlemen, the painful censorship, and the unnecessary government regulations would have been the major concerns before going for the introduction of the cryptocurrency.

The developer and the tech community that rules the world cannot be controlled by the states or nations and their hasty regulations. They want to the travel, trade and to work beyond any border and without any regulation. And it is now more than 9 years, the crypto currencies growing with the much faster rate. And here comes the concept of decentralized Internet that will eliminate the each sort of information request passing through a mandatory point or server or node. The entire cryptocurrency is based on the decentralized internet that offers almost impossible censorship and hacking or interruption threat.

Things all you need to know about the blockchain based cryptocurrencies

There are more than 100 cryptocurrencies out there but some major one could be: Bitcoin, Monero, NameCoins Ethereum, Factom, Rootstock, DotCoin, Maidsafe, StorjCoin, SiaCoin and so on.

There are Some Coins that Performs a Different Functions

There are many programs that as similar as crypto currencies and also works on the blockchain technology but they are meant to perform a different set of tasks. The best name could be NameCoin that basically is a distributed DNS and act like as a table that stores the addresses (Domain Names) and resolves them to network readable forms on the decentralized net.

What are some Blockchain based Domains?

Dot Bit Domains: .bit is a top level domain that is not a part of the currently used DNS for the centralized internet system (conventional Internet). It is blockchain based DNS system works on decentralized Internet.

Dot Ethereum Name System: The Ethereum is a platform for the network decentralized crypto currencies. The Ethereum is a network (while ether is coin or currency that work on Ethereum) or platform which is made using smart Contracts. Etherium is a set of automated task that runs after certain condition met. These certain tasks could be sending money or asking for the pieces of information.

EmerCoin: Emercoin is an environment or platform built on the popular cryptocurrency peercoin and it is believed that it more resistance than 51% and works on the Proof-of-Sake algo.

About PeerName: PeerName is a company that provides the complete blockchain based domain name registrations for the decentralized internet.The company is serving the clients from across the world for providing the affordable blockchain based domain name registrations. In addition, this company provides the consultancy for the cryptocurrency related information.

You may be interested

Benefits of Having Real Twitter Followers
Social Media
15 views
Social Media
15 views

Benefits of Having Real Twitter Followers

Danish Meraj - May 6, 2021

It has become a fashion to be a part of social media, in recent days. People are connected with each…

9 Crucial Things to Look for in a Business Phone System
Tech Updates
47 views
Tech Updates
47 views

9 Crucial Things to Look for in a Business Phone System

Andrew Williams - April 27, 2021

  Business phone systems are one of the most critical parts of a business. Even if a business is already…

How to Acquire a Successful Information Management Strategy
Tech Updates
46 views
Tech Updates
46 views

How to Acquire a Successful Information Management Strategy

Danish Meraj - April 27, 2021

  Do you know that having to travel back to the office to get the documents for an urgent request…