Cryptocurrencies Bit by Bit

Over recent months, the interest in cryptocurrencies has risen significantly, from both within the tech world and mainstream media. First proposed by Wei Dai in 1998 a cryptocurrency is a form of virtual currency, the most popular of which is Bitcoin – coming about some 11 years after Dai’s proposal. The rise in popularity of cryptocurrencies as an accepted form of payment has now moved from the cyber world and made its way onto the streets, with the some coffee shops now allowing you to use it for your morning caffeine fix, for example.

Whilst Bitcoin continues to be the most well-known virtual currency, the ever growing range of cryptocurrencies now numbers over 70. Some of the other cryptocurrencies growing in notoriety include Ripple, Litecoin, the short-lived Coinye and let’s not forget Dogecoin! Who would have thought the star of last year’s breakout meme, Doge, would have ended up with his own currency? Much wow, indeed.

If you’re anything like us here at WebHostingBuzz, your interest in cryptocurrencies will have been well and truly piqued. Fortunately, our bit by bit guide is here to tell you everything you need to know about virtual currencies, from what they’re made of to how to mine them.

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