EncryptoBit - "inˈkripto/bit/"
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A cryptocurrency is a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Crypto Currencies are a subset of alternative currencies, or specifically of digital currencies.
Bitcoin became the first decentralized cryptocurrency in 2009.[Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a blend of bitcoin alternative.
CryptoCurrencies use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger.
Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. However, companies or governments cannot produce units of cryptocurrency and as such, have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in a decentralized cryptocurrency. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto.
As of March 2015, hundreds of cryptocurrency specifications exist; most are similar to and derived from the first fully implemented decentralized cryptocurrency, bitcoin. Within cryptocurrency systems the safety, integrity and balance of ledgers is maintained by a community of mutually distrustful parties referred to as miners: members of the general public using their computers to help validate and time stamp transactions adding them to the ledger in accordance with a particular time stamping scheme.
Bitcoin Wallets & Exchanges
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The BitAnex Bitcoin Wallet Features
The most private and secure digital wallet in the world! BitAnex Wallet provides Freedom and full Privacy.
You create your own private keys. Your private keys are not shared with the server.We do not store your accounts and ask you for any information.
Your transactions are generated by your local computer or mobile. Multi-signature wallet with different language and currencies. Connected with multiple exchanges.
Mobile and desktop applications are available.