For you to see with your own eyes; In the following image, you can see the growing interest in the term “cryptocurrencies” in Google searches in the last 5 years:

The ten cryptocurrencies (or cryptocurrencies) with the most future

However, with so much noise on social networks and other media, we can certainly feel confused and not understand precisely what these cryptocurrencies or crypto-assets are based on and how they work.

In this guide, we will talk about what cryptocurrencies are, what principles they are based on, and what are the leading by market capitalization.

What are cryptocurrencies?

Cryptocurrencies are digital or virtual currencies planned to function as a middle of an exchange.

These currencies have the same function as the money we use daily since they are used to pay for products or services. Now, how is digital technology money, it can be hackable, and that is why cryptography comes into play.

Cryptography is the science responsible for encrypting a message so that the appropriate recipient can only read it. In this way, when we send a cryptocurrency to a person, we ensure that the currency cannot be intercepted and stolen through cryptography.

The ten cryptocurrencies with the most future – cryptography 1024×341

In this image, we see how cryptography prevents you from interpreting the message sent (or stealing the currency, in our case) if you are not the receiver or sender.

In short, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are met.

Characteristics of cryptocurrencies

Its main characteristics, as we have said, are:

A cryptocurrency or cryptocurrency is a method of digital asset based on a system that is dispersed in a large number of computers. This makes it decentralized (it does not depend on an enormous central computer).

It is not a physical currency (although it can be stored on devices such as hard drives or external memories).

Its creation is based on unique cryptography.

They do not depend on anybody or the government responsible for generating this currency.

Functions of Cryptocurrencies

Cryptocurrencies are systems that allow secure online payments denominated in virtual ” tokens “, which are represented by internal accounting entries of the system.

“Crypto” means encryption algorithms and cryptographic techniques that protect these inputs. Such as elliptic curve encryption, public/private key pairs, and hash functions.

How many cryptocurrencies or cryptocurrencies exist?

Today there are more than 10,000 virtual currencies around the world and counting. In addition, every so often, a new one appears, which is created through a process called ICO.

What differentiates all these currencies is the technology, the encryption, and the philosophy that they use. Most use Blockchain technology, but it is not the only one.

Some platforms. With the creation of new, new media have appeared to send, receive and buy different kinds of cryptocurrencies, such as Bitcoin Cash, Ethereum, and Litecoin. However, we must not confuse these networks with wallets or cryptocurrency buying and selling platforms. As Coinbase and Binance are buying-selling platforms. And digital wallets that allow you to operate safely with cryptocurrencies.

The latest news of the Blockchain boom predicts more and more consolidation of virtual currencies and the arrival of more and more investors (even governments have already started buying these assets). We tell you what the cryptocurrencies of the moment and those that seem to have more future are. For this, we will choose the ten most significant coins by market capitalization:

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In the article, we will take a tour of what fiat money is and its arrival in the current virtual currency that, according to experts, can replace cryptocurrency. Interested? Keep reading!

What is fiat money?

To begin with, defining what we mean when discussing fiat money is essential. Fiat or fiduciary money is the currency we traditionally use to purchase goods and services: the dollar, the euro, etc.

This currency is issued by the Government and is not financed by a physical commodity (such as gold or silver); it has no intrinsic value, which means that its value depends on the relationship between supply and demand and the stability of the issuing Government.

An example of this is banknotes and coins. Alone, as an object, they have no material value; their value corresponds to that assigned arbitrarily by consensus.

Today, fiat money represents the most dominant iteration of money. However, history has shown that money evolves, and with the advent of blockchain technology and cryptocurrencies in 2008, new global systems of money and value appeared.

From fiat money to cryptocurrencies

As we mentioned, the government controls fiat money, which can print bills and coins as needed, making it unlimited. This means that it  currently not possible to determine how much extra money will be produced and how it will distributed. The problem with this lies in inflation. If there a lot of circulation of fiat money, the value  reduced.

This situation has already occurred in different countries where inadequate government management has caused their currency to devalued, and purchasing power has lost.

In 2008, a white paper for what known today as Bitcoin released during the great global financial crisis. This document defined Bitcoin as “an effective electronic peer-to-peer system.”

In part, the arrival of the first cryptocurrency (BTC), and of the other altcoins, arises as a method to counteract inflation and to own one’s own money. In such a way, its owner can decide how, when, and where he sends or receives money.

Cryptocurrencies have a limited number of coins created, so the value increases when there is more demand, avoiding inflation risk.

What are the differences between fiat money and cryptocurrencies?

One of the most revolutionary differences with the advent of cryptocurrencies such as bitcoin (BTC) and ether (ETH) that they built on decentralized blockchains, which means that a single body does not control them,. There is no need to intermediaries such as banks or the Government.

By operating in this decentralized manner, cryptocurrencies can remain highly resilient and validate transactions without third-party intervention. In the blockchain, each transaction is permanently recorded in a block, making the transaction valid and irreversible. In this sense, cryptocurrencies are perhaps one of the safest ways to pay for goods or services.

Cryptocurrencies use a virtual wallet where the encrypted keys can accessed found. This makes it a more secure system than fiat money.

Due to the traditional banking system, transaction costs for fiat money are higher than those for cryptocurrencies.

Properties that fiat money shares with cryptocurrencies

Cryptocurrencies can considered money since they meet specific criteria that fiat money already has; these that it must act as a store of value, be an exchange instrument and function as a means of payment.

Store of value:

For a currency to work, it must preserve its value over a long retro of time. In this way, general confidence generated in this money can used without fear of a possible devaluation.

Although initially cryptocurrencies and the blockchain have been marked by market volatility, a type of cryptocurrency called ” stablecoins ” has appeared in which this currency is associated with the value of a fiat exchange (such as the dollar or the euro) or with material goods. . This has reinforced its use as a digital currency of value.

Payment method

Money must a widely accepted form of payment. It must be able to acquire goods and services in any market. This is already something that happens with fiat money, accepted worldwide (with its respective currency) to carry out any transaction.

Cryptocurrencies still have a way to go; however, thanks to the expansion and adoption of the forex markets, there has been increasing acceptance at both the individual and institutional levels.

exchange unit

To function as a unit of exchange, money must have a transactional price and determine the value of goods and services in the economy relative to others. In the case of fiat currency, the banks manage the matter either by printing more money, increasing interest, etc. The value of the cryptocurrency depends solely on the current market prices.

Another critical point to classify as a unit of exchange is that the currency is divisible. For example, in fiat money, two euros can divided into two one-euro coins, two 50-cent coins and one one-euro coin, and so on. Cryptocurrencies are digital by nature, making them especially suitable for divisibility. BTC can divided into satoshis (one hundred millionths of a bitcoin).

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In addition, new cryptocurrencies are added to the market regularly, as well as trading platforms, developers, and banking and institutional partners. Today, this nearly trillion-dollar market undoubtedly influences how you invest and trade.

Thus, the digitization and technological progression of the modern world have fueled the collection, analysis, and application of Big Data analytics, which have been incorporated into all aspects of daily life and are progressing rapidly. The Internet of Things (IoT) is altering the infrastructure of networks and communications. Cloud computing is changing the way data is calculated and stored.

All this while the techniques of Data Mining, Machine Learning and Artificial Intelligence are taking giant steps towards extracting knowledge, problem-solving, decision making and optimization of operations.

Cryptocurrencies, Blockchain and Big Data are the epicentre of advanced research.

These Big Data Analytics technologies are not only a trend in their research and implementation. If not, possible solutions and strategies for all aspects of human life. Like the prediction of diseases, adequate medical care, among others.

For example, the MapReduce programming framework is a fusion of cryptocurrency, Blockchain and Big Data analytical processes. They have provided a powerful framework for industry, finance and commerce as well as academia.

Likewise, cryptocurrencies work in a system that cannot be materialized, and the well-structured complete records of global networks satisfy the characteristics of the so-called “5 V” of Big Data: volume, variety, speed, integrity and value.

Therefore, it serves as a good resource for Big Data Analytics, while this analysis also holds the keys to the evolution and development of cryptocurrencies. An example is the global scale of digitization and the popularization of the Internet of Things (IoT). They are driving the adoption of new technologies in general. Which makes cryptocurrencies a much more promising option shortly.

Investments and development can be accelerated and consolidated.

In the same way, Big Data Analytics can also help investors and developers to make better decisions. As well as to overcome infrastructure limitations. On the other hand, the technologies underlying cryptocurrencies have proven their practical application in a wide range of fields, this has further accelerated digitization and widened the Big Data analytics network.

In this exact order of ideas, there are mutual benefits for exploiting cryptocurrencies and Blockchain when considering their interactions with Big Data. Furthermore, the potential benefits are still countless.

Rise of cryptocurrencies, Blockchain and Big Data

First, the first cryptocurrency, Bitcoin, was invented by Satoshi Nakamoto (a pseudonym) in 2008 and has been in circulation since 2009. Since then, it has become the most famous cryptocurrency and the representative term. Of cryptocurrencies ever since.

In recent years, the market price of Bitcoin has been around $20,000. At the end of 2017 and today, it maintains an average of about 30 thousand dollars. Technically, cryptocurrency mining means reinforcing the computing powers to participate in cryptocurrency networks and approve transactions. A minimal amount will be paid in said cryptocurrencies.

Bitcoin is complicated to mine right now, as its vast potential and market value have attracted more miners and developers to become part of this growing market. Thus, the total supply of Bitcoin has shown an exponential growth trend since it was first introduced.

Unlike banknotes, cryptocurrencies encrypted digital currencies that cannot physically created—taking into account the rapid development of payment methods and transactions in the last 10 years. It is not safe to say that these assets will be the future currency. But do not underestimate its significance and its possible influence.

The influence of Blockchain and Artificial Intelligence

When discussing merging cryptocurrencies, Blockchain and Big Data with Artificial Intelligence (AI). Cryptocurrencies are only a tiny part of the rapid technological advances of recent years.

To begin with, the term “artificial intelligence” coined by Professor John McCarthy in 1956 and defined as “the science and engineering to manufacture and develop intelligent machines, brilliant computer programs.”

Since then, Artificial Intelligence has evolved rapidly in different fields. Which serve as support to various disciplines such as Big Data, Blockchain, and Data Mining, among others.

Similarly, artificial intelligence uses advanced computing to analyze and make sense of complex data. So the machines trained to react intelligently in reasoning and problem-solving. Both artificial intelligence and cryptocurrencies were the main topics of one of the biggest technology conferences in Japan some time ago.

Likewise, cryptocurrency platforms and investors implement artificial intelligence technologies for product optimization and organizational decision-making.

Thus, the limitations of Blockchain technology can find solution with the help of artificial intelligence technology. For example, making the Blockchain more energy efficient, customizing the adoption process, and improving security.

In addition, the publicly accessible data that Blockchain can offer is a good resource for artificial intelligence processing. Something that can also help improve fake confidence.

Union of cryptocurrencies with Big Data

The Big Data era has brought with it complex challenges, along with unlimited opportunities all over the world simultaneously. Thus, Big Data Analytics has driven innovations and progress on a wide range of topics. To give you an example, crime, causality analysis, energy, forecasting, and banking are some tests of these disciplines.

Equally, there is evidence that Big Data Analytics is helping the banking industry improve security, risk management, customer relationship management and marketing in general, which has significantly optimized its efficiency and profits.

As a fast-growing industry in recent years, cryptocurrencies linked to Big Data in multiple ways. The convergence between cryptocurrencies and Big Data occurs mutually. The nature of the cryptocurrency network has determined its importance as a valuable Big Data Analytics resource.

A fundamental Blockchain architecture, for example, a decentralized system which contains all the transaction records of each participant and the data well structured and accurate—making it an intensive data environment and an ideal resource for applying Big Data Analytics.

Blockchain technology plays a key role.

They are taking into account its great value as an alternative currency and the Blockchain technology behind it with a wide range of application options. The interest of developers and investors popularized the technology related to cryptocurrencies, the growing size of cryptocurrencies and their participants who decided to embrace this era of technology and digitization. Furthermore, they further drive the data resource to build the Big Data.

Cryptocurrencies can offer high-quality and well-structured data for Big Data Analytics; it is also crucial to investigate the values ​​that Big Data can bring to the cryptocurrency industry. Some deals ​​are improved security, privacy, deep analytics, and predictions.

First, the technology related to cryptocurrencies works as a secure network to store and share a large amount of data among a network of gigantic participants.

In addition, Big Data analytics techniques can also improve the security of the already stable architecture through analysing the Big Data provided by such a network. An example of this is identifying cybercriminal entities, and hackers and detecting the attacks that can cause the most significant impact.

Cryptocurrencies, Blockchain and Big Data improve security and privacy.

In this sense, the cryptocurrency market currently contains more than 2 thousand different cryptocurrencies, and the market valued at more than one trillion. Its digital and decentralized characteristics make it a vulnerable and profitable demand for malicious hackers. According to experts, most cryptocurrency research focuses on cryptocurrencies’ privacy and security perspectives.

This trend remains unchanged when researchers encounter Big Data and its associated technologies. In addition, numerous investigations have carried out on the submission of Blockchain technology in the management of Big Data and the control of its access itself. Such a way researchers have developed this technology to achieve decentralized data management. All this while maintaining privacy and security.

For example, to provide patients with an immutable record and full access to their medical history across providers and treatment centres. Data management system solutions being investigated for this sensitive and private information.

Likewise, they have proposed a system called Med Rec, which integrated patients, medical information providers and other interested parties in the medical field to participate in said system. All this is is based on Blockchain, at the same time, it served as Big Data to enhance the researchers’ data. In this way, they developed a set of secure platforms to allow third parties to process patient data without violating their privacy.

The merger of cryptocurrencies, Blockchain and Big Data will help medical research.

In the same way, thanks to the combination of cryptocurrencies, Blockchain and Big Data, medical data exchange systems developed, all focused on the user. That being said, medical data from personal wearable devices collected by a mobile application using the Blockchain in a decentralized and pre-permission manner.

In the same way, it should renowned that a data processing method based on a process tree adopted. All this is for the correct processing of Big Data associated with personal medical care.

Even improvements have made to the system; these improvements  based on smart contracts—all this to safely monitor the patient in real-time and medical interventions. Similarly, the Internet of Things (IoT) has widely incorporated into today’s technological lifestyle, and its relationships with cryptocurrency technologies inevitable.

Cryptocurrencies, Blockchain and Big Data combine to provide multiple advantages.

Everything related to cryptocurrencies and the key Blockchain technology that supports it has extensively developed. As well as, a systematic review of the research indicating the close interactions between cryptocurrencies, Blockchain, and Big Data can made.

It a fact that it has proven that the rapid growth of interest and focus on an emerging and valuable market such as cryptocurrencies is accompanied by criticism and mistrust. Critics aside, these technologies offer an efficient, decentralized, and peer-to-peer transaction system globally. All this while maintaining anonymity, privacy and security.

However, its digitization and anonymity features make it an easy target for hackers and digital criminals. So it’s less easy to adopt for most people who aren’t average tech-savvy.

In addition, the Blockchain technology behind cryptocurrencies has expanded its capabilities. It has implemented in various fields, such as smart contracts, data commerce and management, governance and digital property, among others.

Researchers have been working on solutions to overcome its limitations and further improve this technology. Thus, relatively new advances such as Tangle and Hash graph technologies have found, which can substantially improve efficiency and reduce administrative costs.

Similarly, the convergence with artificial intelligence has attracted much attention. Big Data and cryptocurrencies are topics and technologies that today remain in trend. For this reason, with the Master’s in Big Data and Business Analytics, you will be able to obtain all the knowledge to apply these technologies and methods to your organization.

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When cryptocurrencies were created, no one thought of the rapid and overwhelming growth that this new type of crypto asset would experience. Nor was it the acceptance and the enormous expectation that it was going to generate in public. For many, the fever induced by the irruption of cryptocurrencies in the financial markets is comparable to the famous gold rush of the last century, but with the digital tools and technology of this century. These cryptocurrencies are also born from mining.

What are Cryptocurrencies?

Before discussing the advantages of using cryptocurrencies in finance, we must understand these new assets very well. Without fear of being wrong, we can say that cryptocurrencies are a unique, decentralized, intangible means of payment. Cryptocurrencies are presented as an alternative to the use of traditional money or fiat money. It can fulfil the same functions as conventional money but ris

Why are Cryptocurrencies Created?

Cryptocurrencies are created to satisfy specific needs that have been hitting the financial world for a long time. Bitcoin is the first and most famous of the cryptocurrencies. It was launched on the market in 2009 by a developer known under the pseudonym Satoshi Nakamoto. It was thought and designed to allow the payment of electronic money directly from one person to extra, without the need for a chief authority to validate this transaction.

Can Cryptocurrencies Fulfil The Functions Of Money

It also makes it possible to speed up the different banking operations by eliminating the existing bureaucracy that, due to its cumbersome procedures, unnecessarily delays the closing of many of the transactions.

What are the advantages of using cryptocurrencies?

Every day the use of cryptocurrencies is more widespread; let’s know the advantages they offer:

Decentralization

Most cryptocurrencies operate in a decentralized manner, depending on their algorithm. That is to say, they are not subject to regulations, or under the control of the government, banking or financial organizations of any kind, and all their users have the same rights and are equal to each other. In fact, in networks like Bitcoin, even developers cannot change the algorithm of their operation. This gives investors a greater sense of security.

Low transaction costs

Transactions in cryptocurrency systems are carried out on the P2P principle without the involvement of a central control body. That is, without any intermediary in their dealings. This makes it possible to reduce network maintenance costs, which significantly lowers transfer costs. Unlike banking and electronic payment systems, users can independently set the commission size and even send transactions without it.

speed and irreversibility

Cryptocurrency transactions are characterized by their high processing speed. And effectiveness, in general terms, is almost immediate. This was one of the reasons for its creation in the first place, to streamline the slow processes of banking transactions. Also, after adding a new transaction to the blockchain, it becomes irreversible. Additionally, the irreversibility of the transactions helps to prevent the falsification of records and fraud in the system, thus contributing to avoiding possible scams.

Cryptocurrencies are not sensitive to inflation

Cryptocurrencies have a sophisticated inflation prevention mechanism. For example, in the Bitcoin network, inflation is avoided thanks to certain features:

• Limited edition of 21 million pieces, not adjustable.
• New coins are issued strictly once every 10 minutes.
• Every four years, the issuance of coins is halved.
• Can Cryptocurrencies Fulfil The Functions Of Money

Similar methods exist on every cryptocurrency network, allowing you to predict how many coins will live in a certain period.

simple and affordable

Many people mistakenly think cryptocurrencies are too complicated to learn and use, but that doesn’t have to be the case. They are available to everyone, and anyone can start using cryptocurrencies, even without technical knowledge or understanding of the system.

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Cryptocurrencies and scams

How do people use cryptocurrencies?

People use cryptocurrencies for many reasons, to make quick expenditures, to avoid transaction fees charged by old-style banks, or because they offer some anonymity. Other people might buy and hold Cryptocurrency as an investment, hoping it will increase in value.

How can you get cryptocurrencies?

You can buy Cryptocurrency through a cryptocurrency exchange, website, or ATM. Some people can acquire cryptocurrencies through a complex process called “mining” or “mining”, for which advanced computer equipment is needed to solve complicated mathematical problems.

Where and how are cryptocurrencies stored?

Cryptocurrencies are stored in a digital wallet, connected to your computer, or another external physical medium. A digital folder or wallet has an address, typically a long cord of numbers and letters. Suppose something occurs to your cryptocurrency wallet or funds, for example. In that case, if the online exchange you use goes down, you send Cryptocurrency to the wrong person, you lose your digital wallet password, it’s stolen, or If there is a problem with your digital wallet, you may find that no one is available to help you recover your funds.

What are the differences between Cryptocurrency and the US dollar?

Since cryptocurrencies only exist online. Significant differences exist between cryptocurrencies and traditional currencies, such as the US dollar.

A government does not sponsor cryptocurrency accounts. Cryptocurrency held in books is not government-insured like US dollars deposited in an FDIC-insured bank account are. Suppose something happens to your account or your cryptocurrency funds, for example. In that case, the company that provides the storage service for your virtual wallet goes out of business or suffers a hack, and the government is under no obligation to intervene to help you get your money back.

Can Cryptocurrencies Be Trusted

The value of a cryptocurrency is constantly changing. The value of a cryptocurrency can change fast, even hourly. And the amount of that fluctuation can be considerable. Cryptocurrencies tend to be more volatile than traditional investments like stocks and bonds. An investment worth thousands of dollars today might be worth only a few hundred dollars tomorrow. And if the value goes down, there is no guarantee that it will back up.

Pay with cryptocurrencies?

There are many differences between paying with Cryptocurrency and a credit card or other traditional payment methods.

Cryptocurrency payments have no legal protections. Credit and debit cards have legal protections if problems arise. If you need to quarrel a buying, your credit card company has a progression to help you get your money back. Cryptocurrencies generally do not have those same protections.

Generally, cryptocurrency payments are irreversible. Once you pay someone with Cryptocurrency, you can frequently only get your money back if the person you paid returns it to you. Before buying something with Cryptocurrency, find out the seller’s reputation by doing a little research before settling.

How to avoid cryptocurrency scams

Scammers are always seeing for ways to bargain money from you using Cryptocurrency. Here are some things to know to avoid a cryptocurrency scam.

Can Cryptocurrencies Be Trusted

Some of the information about your transactions is likely to be public. People often say that cryptocurrency transactions are anonymous. But the truth is not so simple. Typically, cryptocurrency transactions are recorded on a public record called a “blockchain.” That is a general list of each cryptocurrency transaction that contains details of the payer and the recipient of the payment. Depending on the blockchain, the information that is recorded in that registry may include details such as the amount of the transaction and the digital wallet addresses of the sender and recipient of the payment. Sometimes it is possible to identify the persons involved in a specific transaction using transaction and portfolio information. And when you buy approximately from a seller who asks you for other information, for example, a delivery address,

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• BANXICO, the SHCP and the CNBV warned citizens that, currently, financial institutions do not offer operations with cryptocurrencies

The government of Nayib Bukele led El Salvador to be, since June, the first country in the world to convert bitcoin into a currency for legal use. However, in this regard, Dragan Boscovic, founder and director of the Blockchain Research Lab at Arizona State University (ASU), comments that the use of cryptocurrencies, thanks to the characteristics of blockchain technology, can help fight corruption and make the use of public resources.

The decision of the Bukele government was not viewed favourably throughout the world. It was even criticized by citizens, business people, economists and institutions, including the World Bank (WB) and the International Monetary Fund (IMF), which warned that implementing bitcoin could lead to legal and economic problems.

What are cryptocurrencies? Benefits and problems

To understand the possible problems and benefits of using Bitcoin, Dragan Boscovic explains how blockchain technology is made up.

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“It is a technology-based solution. It consists of interconnected and geographically dispersed computers that simultaneously collaborate and compete to record information such as a user’s digital identity, asset ownership, and asset transfers between users to make it difficult for anyone to change, hack, or cheat the system.

The Arizona State University expert also clarifies that cryptocurrency is a native application for many blockchain solutions and records transaction balances in an associated digital ledger.

 “With the right digital forensics tools, it is relatively easy to link a specific person to their identity”.

Dragan Boscovic, Founder and Director of the Blockchain Research Lab at Arizona State University

Anonymous cryptocurrencies? False!

Boscovic indicates that all cryptocurrency transactions are verified and immutably recorded.

“Which makes blockchain-based solutions suitable for fighting corruption,” he says.

They were questioned about the reputation of cryptocurrencies that indicates that they are “anonymous” and therefore difficult to trace, Dragan Boscovic details that blockchain technology records all the digital identities of the parties involved in a particular transaction. However, he comments that a blockchain user can have one or more digital identities on a given blockchain and that the “anonymity” comes from the fact that these digital identities do not directly link a physical user to a government-issued ID.

“However, blockchain is a rich source of digital information. With the right digital forensic tools, it is relatively easy to link a specific person to their digital identity used to carry out transactions on the blockchain”, warns the expert.

Another aspect that worries detractors of cryptocurrencies security since these digital means of exchange usually linked to online crimes.

“Like all other technologies, criminals can also use cryptocurrencies. Moreover, the easy cross-border and almost instantaneous transfer of cryptocurrency assets are the key attributes criminal groups like and exploit,” accepts the ASU expert.

However, Boscovic insists that all cryptocurrency transactions recorded digitally.

“And criminal groups are wrong to think that the use of cryptocurrencies better protects their illegal activities; If anything, their use of cryptocurrency will only help law enforcement agencies gain more accurate visibility into their activities,” he says.

can cryptocurrencies and blockchain help fight corruption

The academic adds that forensic tools for blockchain and cryptocurrency analysis are based on the fact that it is relatively easy to track and interpret the flow of digital assets and money on the blockchain.

“Court records reveal that investigators can trace cryptocurrency transactions to a particular digital wallet ( wallet ), linking the digital identity to a natural person who owns the wallet. By establishing the link between the two identities, the authorities can access that wallet using a ‘private key’ or ‘password’, details the Center for Assured and Scalable Data Engineering director. 

The methods to link digital identity and natural persons implement advanced data analytics and artificial intelligence techniques.

“These techniques allowed the FBI to intercept the recent ransom payment to cyber attackers at the Colonial Pipeline in the United States,” it says.

The ASU professor’s reference to an operation in which FBI investigators recovered $2.3 million in bitcoins that had paid as ransom to a criminal group that had accessed the computer networks of the Colonial Pipeline, the world’s most extensive oil pipeline system. for refined petroleum products in the United States.

Will El Salvador force the rest of the world to accept bitcoin?

Dragan Boscovic advances that since El Salvador adopted bitcoin as legal currency, as of September of this year, all companies established in that country must treat the cryptocurrency and the US dollar equally, which adopted as legal currency in 2001.

“Now that Bitcoin is the legal tender in a sovereign nation, it is necessary to make certain adjustments internally and internationally. In addition, it is possible that international monetary organizations can adapt to these new circumstances,” he says.

Boscovic comments that according to World Bank rules, El Salvador’s legislation on cryptocurrency could force the international financial organization to accept bitcoin in the future, opening the door for other nations to choose the cryptocurrency as legal tender.

And the cryptocurrencies in Mexico?

At the finish of June, the Bank of Mexico (BANXICO), the Ministry of Finance and Public Credit (SHCP) and the National Banking and Securities Commission (CNBV) issued a joint statement in which they warned citizens that Currently, financial institutions not authorized to enter into or offer cryptocurrency transactions to the public.

This includes deposits or any form of custody, as well as exchange or transmission, so financial institutions can only carry out internal operations with virtual assets with the authorization of BANXICO.

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What is a Bitcoin?

Bitcoin is the name given to the first cryptocurrency. It dated from 2009 and was born by the hand of a person or group of people who called themselves Satoshi Nakamoto, who managed to create bitcoin under the blockchain technology they invented. Like the rest of cryptocurrencies, there is no type of regulation for it.

How can you acquire bitcoins?

We can get bitcoins by buying or exchanging the currency in specialized portals. It is essential to observe that bitcoins -or any other cryptocurrency- are complex instruments that may not be suitable for people without sufficient knowledge. Whose price involves a high speculative component that can even mean the total loss of the money paid to buy cryptocurrencies.

If you want more information about bitcoin, you can access this Openbank content. Also, if you want to know all the curiosities around this currency, you can visit this information from Finance for Mortals.

price-cryptocurrencies history

Price History – Cryptocurrencies report the historical value of a digital currency and can be displayed in the form of a plan or a list of previous prices. Each cryptocurrency has a unique price history. Studying historical prices, such as monitoring XLM price here, can provide insights into the currency’s past, helping you make informed predictions about its future.

Bitcoin was the first cryptocurrency and therefore had the most extended price history – dating back to 2009, when its value was well below $0.01. Many of the cryptocurrencies released since then have been based on the Bitcoin model and some were created via hard forks of the Bitcoin code. However, their prices pasts quickly wander due to other differences between the coins.

The largest rally in the cryptocurrency market occurred in 2021. Cryptocurrency prices began to rise in late 2020 and in January 2021. The global cryptocurrency market capitalization exceeded $1 trillion for the first time. It continued to increase mainly through the rest of the first quarter and was over $2 trillion in May.

Price of cryptocurrencies: Factors that influence their prices

A wide variety of factors can influence the price of a cryptocurrency, with variable levels of importance. Some elements are unique to a particular coin, while others affect the entire cryptocurrency industry.

The strength and events of the world economy, in general, can affect the cryptocurrency market as a whole. For example, almost all cryptocurrencies experienced a significant price drop on March 12, 2020. Caused the biggest single-day stock market crash since 1987. It was when economies and borders worldwide were close in answer to the COVID-19 pandemic, and the enormous uncertainty of that time.

Suppose economic crises or bad monetary policies lead to the debasement of physical money

In that case, many people start looking for other stores of value to defend their funds, so the stock and cryptocurrency markets often get a boost. On the other hand, cryptocurrency prices tend to do well when fiat currencies struggle

Are Cryptocurrencies Securities

Most cryptocurrencies tend to follow what is known as a boom and bust cycle. This pattern in a retro of growing enthusiasm and adoption leads to a rise in price doubt and disillusionment and results in a falling price of cryptocurrencies.

The amount of investment from both small investors and institutions is essential in determining the price of cryptocurrencies. Retailers can motivated to buy or sell a particular coin by several factors, from technical issues to rewards to the hype generated by social networks. Institutions have also started capitalizing on major cryptocurrencies of late. Because they hold much larger amounts, they have a more significant potential to move markets while increasing awareness and confidence in cryptocurrencies among small investors.

Conclusion

Since Bitcoin’s launch in 2009, thousands of cryptocurrencies have emerged, all with different prices, market caps, and purposes. The price history of a coin can tell you about its past and assist you in making expectations about its future. Are Cryptocurrencies Securities

Many factors have influenced cryptocurrency prices, including retail and institutional investors, and project details. Proceedings and tendencies in the rest of the cryptocurrency market and the global economy.

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People could use cryptocurrency to make quick payments and avoid transaction fees. Some people might buy cryptocurrency as an investment, hoping it will increase in value. Cryptocurrency is stored in a digital wallet, online, on your computer, or on another physical medium.

Before you buy a cryptocurrency, you need to know that you don’t have the same protections as when you use US dollars. You also need to know that scammers are asking people to pay them in cryptocurrency because they know those payments are usually irreversible.

• Cryptocurrencies versus US dollars
• Are you about to invest in cryptocurrencies?
• How to pay with a cryptocurrency
• cryptocurrency scams
• crypto hacking
• report scams

Cryptocurrencies versus US dollars

The fact that cryptocurrencies are digital is not the only difference between cryptocurrencies and traditional currencies like US dollars.

A government does not back cryptocurrencies.

Store a cryptocurrency in a company-provided digital wallet or wallet, and the company goes out of business or suffers a hack. The government may not be able to act and help you recover the money like it could with the money kept in banks or credit unions. The government does not insure cryptocurrencies like bank deposits in the US. That means that online cryptocurrencies do not have the same protections as money deposited in a bank account.

The value of a cryptocurrency is constantly changing.

The value of a cryptocurrency can change every hour. If the deal goes down, there is no guarantee that it will back up. Speculation that may be worth thousands of dollars today could be priced only hundreds of dollars tomorrow.

Are you about to invest in cryptocurrencies?

As with any other investment, before investing in a cryptocurrency, know the risks and learn how to spot a scam. Here is a slope of some things to watch out for when seeing your options.

No one can guarantee that you will earn money

Anyone who promises you a guaranteed return or dividend is probably a scammer. Just because an investment is well-known or endorsed by a celebrity doesn’t mean it’s a good or safe thing. That goes for both cryptocurrencies and more traditional assets. Don’t invest money you can’t afford to lose.

Not all cryptocurrencies — or companies promoting cryptocurrencies — are created equal

Look at the statements that the companies that are promoting cryptocurrencies are making. Search the internet by entering the name of the company and the cryptocurrency and add words like “review”, “scam”, or “complaint” if you search in Spanish, add words like “comment”, “estafa”, or “queja.”

How to pay with a cryptocurrency

Suppose you are considering using a cryptocurrency to make a payment. Please know that there are significant differences between paying with cryptocurrency and traditional methods.

When you pay with cryptocurrency, you don’t have the same legal protections

If something goes wrong, credit cards and debit cards have legal protections. For example, if you have to dispute a purchase, your credit card company has a process to help you get your money back. Generally, cryptocurrency payments are irreversible. Once you pay with a cryptocurrency, you can only get your money back if the seller sends it back to you.

Before you buy something with cryptocurrency, find out the seller’s reputation and address and how to contact them if there is a problem.

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Recently, Tether (USDT) suffered a de-pegging (loss of parity with the US currency) and has generated uncertainty among shareholders since it was believed to be one of the most stable cryptocurrencies.

Based on these events, a group of specialists from  BestBrokers have analyzed the Dune Analytics blockchain reports to find out which cryptocurrency has been the most stable in the last nine months.

Goodbye Bitcoin: this is the most stable cryptocurrency in 2022.

ANALYSIS OF THE MOST STABLE CRYPTOCURRENCIES

The most stable cryptocurrencies usually tied to the dollar, with a price around USD 1. For this reason, the specialists analyzed what the fluctuations that generated in the indicated period of time were.

They based their analysis on the six cryptocurrencies that are generally at parity with the dollar, USDC, USDT, DAI, LUSD, BUSD and FRAX, according to the specialized portal Cointelegraph.

In addition, they took into account the percentage of deon they had in what period, the lowest value of ,each crypto at that moment and the total ses each presented.

 CRYPTO ANALYSIS RESULTS

The analysis showed that LUSD is the most minor stable currency, since it had a more than 0.5% deviations and obtained a parity of 53.68% in the last nine months. On the other hand, FRAX was firm 99.75% of the time, DAI 9was 5.73%, and USDC were down 99.72% in that same period.

In this same pperiod, BUSDawasUSD were above USD 1005 and never presented a price below USD 0.995.

Goodbye Bitcoin: this is the most stable cryptocurrency in 2022.

BestBrokers analyst Alan Goldberg said that ” USDC is among the most widely used stablecoins, and the fact that it practically pegged to USD 1 99.72% of the time not a surprise. However, the low deviation of FRAX deserves our attention, especially considering the considerably lower bid compared to USDC.”

Despite highlighting the USDC, the specialist remarked that “with a deviation difference of only 0.03% between 3 currencies, the DAI is drawing attention for being the second”.

DAI IS THE CRYPTOCURRENCY WITH THE MOST STABLE PRICE

According to the report, MakerDAO’s DAI has deviated by more than 0.5%, and in the last nine months,, its parity was only 0.27%, but its value remained more stable than that of the rest of the cryptocurrencies.

In closing,  Goldberg explains that  “stable USDC may not surprise anyone. However, the stability of DAI is considerable. Many corporate adopters prefer to hold assets that are not volatile, as they have to deal with competition, inflation and market conditions.”

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Although there is already a long list of things you can buy and activities you can do using BTC, its unique uses have not yet reached all parts of the world. To achieve widespread bitcoin adoption, several critical factors need to be carefully examined and considered. But before we delve into some of those vital factors, let’s look at the state of bitcoin adoption today.

The bitcoin adoption rate in 2020

We are slowly moving towards a digital world where paperless transactions are the new normal, including fiat money converted to digital currency and cryptocurrencies like bitcoin. Cryptocurrencies are becoming more popular nowadays, and many people are trying this ingenious form of cash.

During the early years of bitcoin, the digital currency received much feedback from different industries and jurisdictions. Some were open to the idea, but others found it challenging to grasp and consider as a long-term asset. After more than a decade, people in various countries are slowly accepting the powerful applications of cryptocurrency, hence the likely growth in the adoption rate of bitcoin.

Recent data from Statista shows the prevalence of cryptocurrency ownership in different parts of the world. Major countries that hold and use bitcoin and other digital currencies for remittance and other payment transactions include Nigeria, Vietnam, and South Africa, to name a few.

Let’s see as an example some industries and businesses that accept BTC as a form of payment. Significant companies in sports and entertainment, automobiles, food and beverage, technology, banking and finance, and other industries are beginning to accept bitcoin as a form of payment for their products and services.

From plane tickets and hotel accommodations to pizza, fancy cars, and even a trip to space, you’d be surprised at the things you can do with bitcoin. Thousands of online cryptocurrency exchanges and markets are also springing up. This shows that a large part of the world population has realized the true power behind bitcoin.

Critical factors for mass adoption of bitcoin

To make the bitcoin adoption curve even higher, some essential factors must be considered. Let’s see what some of these are.

1. Legal and regulatory concerns

With the unique characteristics of bitcoin, cryptocurrency is becoming an effective means of reaching the population with little or no access to banking services. However, this revolutionary goal continues to be hampered by some legal and regulatory issues that vary by jurisdiction.

The BTC has a decentralized character, but the countries’ government and central banks continue to have authority over the legalization of cryptocurrency assets. Although it is becoming more accepted in larger cities and nations, some remain sceptical. This is why a country’s central bank or financial institution plays a vital role in adopting bitcoin widely.

Countries like Estonia, Japan, Singapore, Germany, Switzerland, and the United Kingdom are some of the many bitcoin-friendly countries where people can freely hold and spend their BTC. However, some countries like Saudi Arabia, Qatar and others prohibit the use of bitcoin in their territory.

2. Utility value

Making payments, transferring money, and investing in the markets are just some of the uses for bitcoin. Even today, no one can say whether or not this dominant cryptocurrency can replace government-issued money in the future.

For example, transferring money with bitcoin is much cheaper and faster than fiat money. On the other pointer, there are still some limitations to transacting with bitcoin, especially in countries where traditional banks and other money transfer companies are still the primary means of sending remittances.

Since BTC is not yet accepted as a form of payment globally, direct costs and purchases will remain limited.

3. Technological capacity

Bitcoin is a digital currency that works and operates through powerful technology. Acquiring it (mining) requires high-powered equipment, a reliable Internet connection, huge digital storage space, and high levels of electrical power. These requirements have been a problem in some countries, significantly with the increase in energy consumption due to mining.

Apart from mining, accessing bitcoin can seem challenging and complicated for some people. Buying, storing, and spending BTC requires a smartphone or laptop that can connect to the Internet. Although a good percentage of the population today has gadgets and other digital devices, relating to the Internet is one of the challenges many faces.

Not all places have a fast, stable and reliable Internet connection. Some developing countries are dealing with the high cost and instability of Internet connection. This limited connection to the web may be an obstacle to the mass adoption of bitcoin.

4. Bitcoin Awareness

For bitcoin to reach all parts of the world, people must be familiar with the currency and how it works. One way to achieve this is through cryptocurrency education that can be shared through social media. Communities can increase bitcoin adoption and awareness through word of mouth or social media platforms.

Today, bitcoin still has its limitations, but as we gradually transition to a digital world, there could be a chance that cryptocurrencies will finally be considered one of the new reasonable means of finance. Although there are still regulations and technical challenges for bitcoin, its adoption rate is increasing.

There may still be setbacks and challenges for bitcoin to become widely adopted. However, once the world explores and experiences its remarkable uses, there is no doubt that this leading digital asset will be known and used for revolutionary functions in finance and other industries.

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