What Is Crypto? This Definition and History

Cryptocurrency or Crypto is a digital asset designed with strong cryptography to secure all transactions that occur.

Recently, many people have become interested in cryptocurrencies.

This is shown by the many crypto investors who have even reached tens of millions of people in Indonesia.

Let's get to know more about the meaning of cryptocurrency. So, we can understand it better.

Also read: Come Join the ILO and Buy Land on RansVerse on 9 September 20202

Crypto Is? This Meaning!

Cryptocurrency or Crypto is a digital currency created using cryptography. Thus, it is very unlikely that it can be faked or duplicated.

Decentralized control of each asset crypto it is inside ledgers distributed or blockchain.

Crypto is a virtual currency that has a certain value.

Many people have been interested in starting to invest in crypto assets. Currently there are 383 legal crypto assets in Indonesia.

one of the assets legal crypto in Indonesia that is $VCG Tokens, from VCGamers.

$VCG Token is an asset officially registered with Bappebti (Commodity Futures Trading Monitoring Agency) in accordance with CoFTRA Regulation Number 11 of 2022 concerning Establishment of a List of Crypto Assets Traded on the Physical Crypto Asset Market.

The token from VCGamers has also been listed in a number of exchange. Both Decentralized Exchange (DEX) and Centralized Exchange (CEX). You can find crypto assets from VCGamers here Indodax, Pancakeswaps and also Uniswap.

There are a number of features that have been launched by VCGamers for $VCG Token holders. Among them, $VCG Staking as well as $VCG Swap & Bridge.

$VCG Token also has uses as a medium of exchange in the first metaverse in Indonesia, RansVerse. One of them, by using $VCG Token you can buy land on RansVerse.

Currently VCGamers also preparing NFT Marketplace. All creators will be able to sell their digital works through the marketplace.

However, you should still do in-depth research before deciding to buy or sell crypto assets.

This can minimize the potential losses that will occur. Because, crypto investment is a high-risk activity.

Also read: The Meaning of Dyor in the Crypto World You Should Know

History

The presence of cryptocurrency has a long history. There are a number of things that happened and big names in the history of cryptocurrencies.

It started with an American cryptographer, David Chaum, who used electronic money called e-cash in 1983. Then, he implemented it through Digicash, 12 years later or in 1995.

Later, the NSA published a paper entitled “How to Make a Mint: the Cryptography of Anonymous Electronic Cash,” which provides an overview of the cryptocurrency system. The paper was first published at the Massachusetts Institute of Technology (MIT) and in The American Law Review (Vol. 46, Issue 4) in 1997.

Subsequently, Wei Dai released a description of b-money, which is characterized as a distributed electronic cash system.

Then, Nick Szabo gave an overview of bit gold. Subsequently, proof of work currency systems from Nick Szabo and Wei Dai were followed by Hal Finney.

Then, in 2009, the first decentralized cryptocurrency was released by Satoshi Nakamoto.

Since then, there have been more than 4,000 altcoins or bitcoin alternatives that already exist.

Read on for information about Crypto only in VC News!