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At Stayi, we aim to bring you the most current crypto news in one place. We want to facilitate your search by consolidating as much relevant information as we can. Our goal is to simplify your cryptocurrency understanding, either by providing you with the information you are seeking, or simply point you towards the right direction.

 

Welcome to Stayi, feel free to browse around as we hope to make your crypto journey a pleasant one. 

WHAT ARE CRYPTOCURRENCIES?

 

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are a type of digital currencies, alternative currencies and virtual currencies. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger. Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies have been created. These are frequently called altcoins, as a blend of alternative coin. https://en.wikipedia.org/wiki/Cryptocurrency

WHAT ARE BLOCKCHAINS?

The validity of each cryptocurrency's coins is provided by a blockchain. A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority.

 

Blockchains are secure by design and are an example of a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been achieved with a blockchain. It solves the double spending problem without the need of a trusted authority or central server.

 

The block time is the average time it takes for the network to generate one extra block in the blockchain. Some blockchains create a new block as frequently as every five seconds. By the time of block completion, the included data becomes verifiable. This is practically when the money transaction takes place, so a shorter block time means faster transactions. -https://en.wikipedia.org/wiki/Blockchain

P.S. - We are not affiliated with any of these companies, partners, or individuals who own or legally represent these companies. The information we provide is only for informational purposes and are not intended to MAKE you buy/sell/hold any of these respective coins. Your are solely here seeking more information on anything related to cryptocurrencies.