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@ -34,7 +34,7 @@ Every cryptocurrency has three layers:
Many cryptocurrencies such as Bitcoin can be earned by validating transactions on the network. This process of validation is called "proof of work" and consists of mathematically guessing a random numbers (usually less than a certain determined value or "difficulty") to attempt to match the blockchain's irreversible cryptographic hash function. As more transactions are validated (and rewards for validation are collected) over time, the difficulty of finding the correct hash increases. An increase in the popularity of cryptocurrency mining over the past few years has outpaced the development of the average computational power of a household computer, so in order to mine effectively, one requires a computer (or computers) with especially powerful graphics cards (such as the Nivida GTX 1080) or specialized cryptocurrency mining equipment (such as the Fast-Hash One or CoinTerra TerraMiner IV). It should also be noted that, because of drawbacks of proof-of-work validation (such as energy inefficiency), some cryptocurrencies are exploring alternative algorithms such as "proof of burn".
As with traditional currencies, it is possible to invest in cryptocurrencies. This can be done through centralized exchanges, like Binance, Bitrex, or Coinbase; or decentralized ones like IDEX or EtherDelta. Cryptocurrency trading started to become noticeable around 2013, and the total market capitalization has been on the rise since then, peaking in January of 2018.
As with traditional currencies, it is possible to invest in cryptocurrencies. This can be done through centralized exchanges, like Binance, Bittrex, or Coinbase; or decentralized ones like IDEX or EtherDelta. Cryptocurrency trading started to become noticeable around 2013, and the total market capitalization has been on the rise since then, peaking in January of 2018.
Investment in cryptocurrencies is highly speculative. With much volatility in the market due to the blockchain technologies still being in their infancy and, compounded with a glut of inexperienced investors, the prices of the various currencies often change rapidly.