Origin of crypto currency

origin of crypto currency

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Origins of cryptocurrencies
Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured. The first cryptocurrency was created by Satoshi Nakamoto, the pseudonym for an anonymous computer programmer or group of programmers, on January 3, Based on a free market ideology, bitcoin was invented in by Satoshi Nakamoto, an unknown person. Use of bitcoin as a currency began in , with the.
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Retrieved 28 March Some cryptocurrencies have no transaction fees, and instead rely on client-side proof-of-work as the transaction prioritization and anti-spam mechanism. An example of a gross amount of electronic waste associated with Bitcoin mining operations in the US is a facility that located in Dalton, Georgia which is consuming nearly the same amount of electricity as the combined power usage of 97, households in its vicinity. However, in the law of obligations and contract law , any kind of object would be legally valid, but the object would have to be tied to an identified counterparty. It is especially popular with people attempting to launder money from theft.