Cryptocurrency is a decentralized electronic form of money, based on the principles of encryption in order to secure the network and verify the transactions. Most cryptocurrencies make use of a distributed database, as pillar of their system, which is called Blockchain. Bitcoin, that was introduced in 2009, became the first successful decentralized cryptocurrency. Due to the open nature of its software, many developers were allowed to experiment with its code and modify it.
Since then, a lot of new cryprocurrencies have been created, in which efforts have been made to improve or add functions such as faster transactions, greater anonymity, etc. Today, the most famous cryptocurrencies are Bitcoin, Ether, Litecoin etc. which, according to the studies of the most prestigious economic publications, will occupy an increasing percentage in global transactions in the years to come.
Typical characteristics of the cryptocurrencies:
- Absence of central control authority or confirmation of transactions.
- Ability to use without submitting personal information.
- Availability to use in any place and time.
- Ability to make very small and very big transactions at a very low cost.
- Use of Blockchain technology.
- Ability to participate in the currency version (mining).
- Restriction and disclosure of the money reserve.
- Anonymity in transactions and usually without detection capability.
- Open source.
- Continuous improvement efforts in various areas where Bitcoin is lagging behind.
fluo brand, always following the latest trends in technology, has developed the first preinstalled cryptocurrency wallet for its devices, which you will find in selected models of the new series.
fluo wallet allows you to track your available cryptocurrencies, exchange with friends and partners and make your purchases using this new technology.
You can find below a preview for the app: