mashazas2006

15.04.2022 06:46

Английский язык

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A) with a total market value of $3.4 billion
B) to reform the financial system
C) government interference or manipulation
D) is more transportable than hard metals
E) the use of public and private keys for security purposes
F) that uses cryptography for security
G) having important uses in technologies

A cryptocurrency is a digital or virtual currency 1) … . A cryptocurrency is difficult to counterfeit1 because of this security feature. A defining feature of a cryptocurrency is its organic nature; it is not issued by any central authority, making it theoretically immune to 2) … .

The anonymous nature of cryptocurrency transactions makes them well-suited for nefarious2 activities, such as money laundering and tax evasion. The first cryptocurrency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation 3) … . Bitcoin's success has spawned3 a number of competing cryptocurrencies, such as Litecoin, Namecoin and PPCoin.

Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through 4) … . These fund transfers are done with minimal processing fees, allowing users to avoid the fees charged by most banks and financial institutions for wire transfers.

Central to the genius of Bitcoin is the block chain it uses to store an online ledger of all the transactions that have ever been conducted using bitcoins. Many experts see this block chain as 5) … , such as online voting and crowd funding.

However, because cryptocurrencies are virtual and do not have a central repository, a digital cryptocurrency balance can be wiped out by a computer crash if a backup copy of the holdings does not exist.

Cryptocurrencies are not immune to the threat of hacking. In Bitcoin's short history, the company has been subject to over 40 thefts, including a few that exceeded $1 million in value. Still, many observers look at cryptocurrencies as hope that a currency can exist that preserves value, facilitates exchange, 6) … , and is outside the influence of central banks and governments.