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 Nowadays, electronic money has become particularly popular, despite the fact that it appeared relatively recently. This is facilitated by such factors as convenience of payment for goods in online stores, high speed of transactions, the use of modern technology to ensure the security of transactions. One of the most promising types of e-money is cryptocurrency.


Cryptovalut is a type of digital currency, protected from counterfeiting, which can be stored in electronic wallets, as well as transferred from one purse to another. At first sight cryptovalut look like usual electronic payment systems, actually they have a number of fundamental distinctions, the main of which is their peer-to-peer architecture (P2P), i.e. all system providing transaction performance and storing the information on them, is based on a decentralized computer network and absolute equality of participants. It does not have a single center, and the database is duplicated by all users who use the cryptographic currency. Thus, many crypto-purse computers around the world form a giant automatic 24/7 electronic system. Another difference is the special encryption principles and methods used in the issuance and accounting of cryptovalves.


The functioning of a cryptovalue is determined only by the correctness of the algorithm in the program, and there is no organization or person responsible for it. If the user has made a mistake and specified the recipient incorrectly, it is impossible to revoke the funds. If the user erased his crypto wallet without making any backup copies, the money cannot be returned to him. There is only a clear algorithm that works reliably, and it does not forgive mistakes to the user.



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Cryptography for confidential payments first began to be used back in 1990 in David Chom's DigiCash system[1], but this system was centralized. The use was short-lived because the company soon went bankrupt. The term "crypt-currency" began to be used after the advent of the Bitcoin (Bitcoin) payment system, which was developed in 2009. Later other cryptovalues independent from Bitcoin appeared, such as Namecoin, Litecoin, PPCoin, Novacoin. Many others were created afterwards, but most of them either don't carry anything new or are an exact copy of Bitcoin at all. As part of this research, we will answer a number of key questions related to the creation, use and prospects of Bitcoin cryptovoltaics.


So, what is Bitcoin? Bitcoin is an electronic cash peer-to-peer system that uses a digital currency of the same name, often called the crypt-currency or virtual currency.


Who invented Bitcoin? In 2008, a person or group under the pseudonym Satoshi Nakamoto published the source code and description of the Bitcoin Network. According to Satoshi, Bitcoin was created so that anyone could manage their own money without interference from third parties. After the project was supported by communities around the world, Satoshi ceased any involvement with the project.


What advantages does Bitcoin have? First, decentralization. This means that there is no single management center on the network that stores balance information on wallets and transaction list. This information is stored on the computers of ordinary Bitcoin owners. After installation, the wallet program downloads from other users of the system a complete database of all transactions ever made, i.e. the information cannot be lost or distorted.



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