The short history of cryptocurrency

Cryptocurrency, coins or tokens are sets of numbers that act as digital money. These represent currency and are updated constantly. Cryptocurrency uses the technology of a blockchain (a digital ledger) to record all transactions that have ever been made. It is not controlled by any central authority but instead relies on peer-to-peer networking and cryptography. This allows the creation of new monetary systems that are decentralized and supported by their own communities.

Bitcoin is the first digital cryptocurrency or currency system that uses cryptographic encryption to transfer data, form and store value. Digital currencies such as Bitcoin are also known as virtual currencies or cryptocurrencies. Bitcoin was invented by an unknown person under the name Satoshi Nakamoto in 2009.It wasn’t until 2009 that a paper was published called, “Bitcoin: A Peer-to-Peer Electronic Cash System” (the one we usually call the White Paper). The digital currency has seen some major ups and downs in its short history, with most recently the Bitcoin price reaching all-time highs of more than $19,000 USD before crashing to $6000.

• Origin of cryptocurrency

The origin of cryptocurrency is related to the birth of digital peer to peer cash system. All of which was designed by Satoshi Nakamoto in 2008. It allows users to transfer money from one party to another without relying on a central bank or authority.

Cryptocurrency is an encrypted currency. In this, one can make transactions with the help of digital signature. The term cryptocurrency is a hybrid word of cryptography and currency where cryptography can be defined as an essential method of security and cryptography is used to secure monetary transactions on the Internet.

Cryptocurrency is the future. Without the need for banks, the average person can buy and sell products without the middleman taking a cut.

MegaMoon has the same concept as cryptocurrency. Therefore, we built the MegaMoon platform on the basis of the decentralized system. The decentralized system makes the MegaMoon system neutral and transparent, where MegaMoon lottery players can win prizes without any private or government oversight.

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