fbpx

Crypto Frontline

What is Cryptography?

What is Cryptography?

What is Cryptography?
November 05
16:44 2017

The goal of cryptography is to store and transmit data in a particular form so that only those for whom it is intended for can read and process it. This thing is possible via advanced mathematical principles and as we have stated above, the main goal of cryptography is security.

Short history

Cryptography had been used since 1900 BCE, in Egypt and even the great Roman Emperor, Caesar, used it, his code being named after him, The Code of Caesar. Humans have noticed that by using an encrypted way to transmit data, they could avoid being trapped by their enemies since cryptography had been used at the beginning for military purposes. So, at the beginning, cryptography was heavily used during war periods. Knowing what and how your enemy is communicating can be a decisive factor in determining the winner.

When it comes to cryptocurrencies, cryptography is being used to secure financial transactions of a given system. No matter if we talk about, bitcoin, litecoin, ethereum or any other cryptocurrencies, all systems use cryptography in order to secure how the financial transactions get processed.

Since cryptocurrencies use a decentralized system and all of the information from a particular system are not stored on a single storing hardware machine, an encryptions method is required because all the financial data is distributed among all the computers that take part in that particular system. The technology that enabled that to take place is called blockchain and it is basically a wide network of interconnected computers that store all the information that make the system of a particular digital currency functional. Without the blockchain, crypto currencies would not exist and a blockchain without encryption methods is doomed to failure.

With that being said, this is a brief introduction to cryptography and how it is being used in the cryptocurrency industry.

Will global regulators finally step on the gas and come out with regulation for cryptocurrencies and it will be just an event that will be brushed by the market in the not-too-distant future?

Read more below.

#cryptofrontline #cryptocurrencies #bitcoin

https://t.co/FRirWrLgcw

It’s a positive sign to see traders still interested in futures and demanding for options-related instruments, despite the setback in the Bitcoin price.

Read more below.

#cryptofrontline #cryptocurrencies #bitcoin

https://t.co/DRNlfmKt17

Significant losses can be seen across the board as this is news that leaves a bad mark on how cryptocurrencies could be used by people conducting illegal activity.
#cryptofrontline #cryptocurrencies #bitcoin

https://t.co/FRirWrLgcw

Telegram had been in the center of attention during 2018, when it managed to raise $1.8 billion from private investors, placing it second in the top largest private ICOs.

Read more below.

#cryptofrontline #cryptocurrencies #bitcoin

https://t.co/WwhvQRtx9K

The SEC’s chairman Jay Clayton, who had been very downbeat about Bitcoin ETFs recently, as well as four other SEC commissioners, are about to discuss cryptocurrency in the meeting that took place in September.

https://t.co/P56KwPJB1z

Load More...