Crypto Is? Check out the Full Review!

Crypto is an operational digital asset equipped with cryptographic technology. Maybe there are still some of us who don't know what crypto is.

Recently, the number of crypto asset investors in Indonesia has increased rapidly. In fact, the number has reached 15 million people.

Then, it was also marked by the emergence of a number of Indonesian crypto assets that operated to enter the global market.

In recent years there have also been several Centralized Exchanges (CEX) in Indonesia. Among them are Indodax and Tokocrypto.

The massive development of crypto investment in Indonesia must of course be balanced with education. So, in this article we will review crypto.

We know, of course, that questions about what crypto is usually arise from those who are just interested in investing in crypto assets.

You are certainly curious about what crypto is if you don't know it. This time, let's review what crypto is!

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Crypto Is A Digital Asset

Crypto is a digital asset that is used for virtual transactions and is equipped with strong cryptography to secure transactions that occur.

The presence of cryptography on it makes it impossible to counterfeit.

Every transaction that occurs, such as buying or selling to sending assets, will be recorded in the blockchain.

Blockchain is a technology that is used as a digital data storage or bank connected to cryptography.

Blockchain is described as a ledger. Where, every transaction or information that occurs will be recorded and recorded.

"This cannot be faked or cheated because every change in the blockchain all participants in must verify it," explained Chairman & Co-Founder of VCGamers, Wafa Taftazani some time ago.

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History and Development of Crypto

Crypto has quite a long history before it became as popular as it was several years ago.

American cryptographer David Chaum used a cryptographic electronic currency called e-cash in 1983.

David Chaum then implemented e-cash through Digicash in 1995.

Reporting from Wikipedia, in 1996, the NSA published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash.

The paper provides an overview of the cryptocurrency system and was first published on the MIT mailing list and later, in 1997, in The American Law Review (Vol. 46, Issue 4).

Later, Wei Dai published a description of “b-money” in 1998. The description is characterized as a distributed electronic cash system.

Next up, Nick Szabo spawned bit gold. Bit gold is described as an electronic currency system that requires users to complete a proof of work function with a solution that is cryptographically aggregated and issued.

This is the same as bitcoin and other crypto assets that will follow it.

Later, a reusable proof-of-work currency system was devised by Hal Finney following the work of Dai and Szabo.

Furthermore, in 2009, the first decentralized crypto asset namely Bitcoin was presented by Satoshi Nakamoto.

The release uses SHA-256 and a cryptographic hash function as a proof-of-work scheme.

Furthermore, Namecoin was formed in 2011. This was done as an attempt to form a decentralized DNS which made internet censorship very difficult.

Later, Litecoin was released in October 2011. Litecoin became the first successful cryptocurrency to use scrypt as the SHA-256 hash function.

Then, Peercoin, became the first crypto asset to use the proof-of-work / proof-of-stake hybrid.

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Altcoins

We will also review Altcoins. Altcoins have a number of definitions. Some of them from Stephanie Yang and Paul Vigna.

Stephanie stated that altcoins are alternative digital currencies. Later, Paul Vigna described altcoins as an alternative to bitcoin.

Both presented the definition in The Wall Street Journal.

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About VCGamers

VCGamers is the pioneer of the web 3 ecosystem for Indonesian gamers. VCGamers has raised US$2.6 million or IDR 37 billion in an initial round led by Venture Capital Global, BEENEXT and Rans Venture in mid-2021.

Born from the community and continued with Marketplaces, VCGamers is now launching a crypto asset called $VCG Token which is supported by Blockchain technology.

$VCG which operates on Binance Smart Chain and Ethereum is built on top of a platform-agnostic and game-agnostic social trading network, staking tokens and NFT assets will be universally integrated through existing infrastructure and communities thereby benefiting any metaverse it is connected to .

Apart from that, there are already a number of features in $VCG Token. Among them are $VCG Swap, $VCG Bridge and $VCG Staking.

VCG Token has been listed on Indodax, BitMart, Pancakeswap and Uniswap. You can start to invest easily.