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Cryptocurrency - type of digital currency, emissions and accounting which are based on asymmetric encryption and the use of different cryptographic methods of protection such as Proof-of-work and / or Proof-of-stake. Operation of the system is decentralized in a distributed computer network.
By July 2013 all cryptocurrency software based on open source code systems Bitcoin. Since July 2013 were produced independently developed platforms that support different except cryptocurrency crypto infrastructure - stock trading, shopping, instant messengers and more. In cryptocurrency default is not provided compulsory refund, but there is the possibility of transactions involving intermediary when to complete or cancel the agreement requires the consent of all three or any two parties, the funds can not be forced to frozen or seized without access to private key owner, but participants voluntary agreements may temporarily block their mutual funds as collateral.
Typically, there is an upper limit of total emissions. However, in some kryptovalyut such as PPCoin, Novacoin, Sifcoin and other no fixed upper limit of total emissions and emissions as possible at the expense of existing savings, and by requiring demissiya destruction of a small amount fixed for each transaction. All existing currently used cryptocurrency psevdonimno - all public transactions, but committing to a particular person is no default, but the user identity can be established if additional information is known.
Cryptography confidential for the purpose of payments began to be used since 1990 in the system DigiCash David Choma, the company which went bankrupt in 1998. However, its billing system was centralized and the first time the term "cryptocurrency" began to be used after the emergence of peer payment system Bitcoin, which was developed in 2009, a person or group of persons under the pseudonym Satoshi Nakamoto and uses hash SHA-256 and the system of proof-of-work . Later there were other independent of Bitcoin cryptocurrency called Bitcoin Fork. It was also created many other fork, but most of them do not carry anything new (or an exact copy of Bitcoin, or differences limited to the values and speed limits emissions and / or hash algorithm - function) and not widespread.