The creators of new currencies take the existing bitcoin code and improve it as they see fit. It turns out a fork of cryptocurrencies, with a single “start” in the form of bitcoin.
This process is called a “hard fork”. A hard fork occurs when a user cannot come to a single decision about how digital money works.
For example, this happened with Bitcoin in August. A distinctive feature of Bitcoin is the speed and low cost of transactions.
Bitcoin users decided it was time to improve the system. But the cryptocurrency does not have a single owner who could make new changes.
A majority decision is not enough to change the decentralized cryptocurrency. It is necessary that 99 percent of users agree with the new rules and begin to comply with them.
And although the decision to change the bitcoin system was made, users could not come to a common plan of action.
As a result, Bitcoin split into Bitcoin and Bitcoin Cash, and there was one more cryptocurrency on the market.
In addition to Bitcoin Cash, there are 5 more popular types of digital money alternative to Bitcoin.
Most cryptocurrency exchanges, due to this circumstance, force customers to confirm the relevance of the specified information during registration by means of the verification procedure.
Even when crypto coins are used, which provide the highest degree of confidentiality, you need to disclose your own identity. Otherwise, converting or trading will not work on a particular site.
Benefits of anonymous cryptocurrency exchanges
All users who systematically visit trading platforms, the rules of which involve the introduction of personal data with confirmation of information by copies of documents, are at significant risk.
Accordingly, anonymous crypto exchanges initially block most of the potential dangers. These platforms have the following particularly significant advantages:
- the absolute impossibility of leaking the personal information of clients. Administration, service employees, or cyber-thieves will not be able to take possession of any records, facts, or figures concerning a particular client;
- you can start converting or making money on cryptocurrency trading immediately after registration events and crediting funds to the trade balance. No time is wasted for the exchange employees to receive documents, analyze them and give full access to the trading platform functionality. Often all this is greatly delayed;
- there are no problems with the acceptance of documents. It is not uncommon to meet the requirement to provide a legally certified translation, which is performed by specialized organizations. This is an additional time delay and overhead.
Electroneum, like other cryptocurrencies, is a digital currency built using blockchain technology. What’s so unique about this?
With the help of this crypto platform, players will be able to save the earned game money, transfer 1 btc to Etn or withdraw it in the form of fiat currencies. The principle of operation of this cryptocurrency system is quite simple:
- almost all mobile gaming applications the more difficult it is to get it, the higher it is valued within the crypto network;
- after reaching a certain level of progress in the game, players often completely lose interest in the application, which is why game projects constantly suffer from user churn.