What is Bitcoin

It all started in October 2008, when a document appeared on the site bitcoin.org, describing the mechanism of the distributed cryptocurrency with open source code, called bitcoin.

The basis for the transactions was blocking technology, which is a database that stores all transactions that have ever been committed in the form of publicly available blocks. A special mathematical algorithm connects the blocks to each other and stores on the devices of the participants in the system, not allowing you to make changes from the outside, which provides protection from hacker attacks and increases the security of the system.

Transactions need not be related to finance. For example, all interactions of people with each other can be exposed in a legal transaction. Furthermore, for such a system, employees will not be needed. It will not cause disputable situations, will not create opportunities for fraud and can occur almost instantly.

The first working version of Bitcoin was available in 2009. A relatively narrow range of geeks and programmers used it. The price of one bitcoin at that time was about $ 0.001. By 2011, the price was equal to the price of the dollar. Over time, the course continued to grow. Nevertheless, the technology attracted more and more new users, and many economists appreciated its prospects.

The cost of Ethereum exceeded $ 400

The cost of the cryptocurrency Ethereum exceeded $ 400. At the time of preparing the material, its price is about $ 414 per unit, the last maximum, according to the Coindesk charts, was $ 425.

Judging by the graphs of the same Coindesk and Coinmarketcap – the current figure is the highest. True, in the summer the cost of the air showed higher values ​​on some individual exchanges. The reason for the current growth is the increase in demand from market participants to the currency. Also, it is due to the active development of the currency.

At the time of the news, the capitalization of Ethereum was $ 39.7 billion. It is the second after the bitcoin ($ 135 billion) of the national currency regarding capitalization. Moreover, in third place there is Bitcoin Cash ($ 27 billion).

The cost of bitcoin reached $ 9,000

The price of cryptocurrency bitcoin reached $ 9,000, shows the Coinmarketcap schedule. This is the highest figure in the history of the existence of the cryptocurrency. The total capitalization of bitcoin exceeded $ 150 billion.

Actively bitcoin began to grow on November 25 (+ $ 800 in less than a day), after the information appeared that the founder of Xiaomi Lei Jun is an investor in the Chinese company Bitmain, which creates devices for mining. After all, according to Quartz, this can increase the audience’s confidence in the cryptocurrency.