Previously reserved for those living on the fringes of computing culture, digital currencies are quickly gaining popularity. You’ve probably heard of Bitcoin, but have no idea what it is. Simply put, it’s digital money that is completely secure and doesn’t use traditional banking to determine it’s value. It is known commonly as a cryptocurrency.
In 2009 Bitcoin became the first popular cryptocurrency. While bitcoin is commonly attributed to the mysterious Satoshi Nakamoto, no one really knows who he is. Since 2009, many alternative cryptocurrencies have been created. Now we have Ethereum, Bitcoin, Gridcoin, Mastercoin, Auroracoin, Titcoin, among others. While these may sound like street names of drugs, these other cryptocurrencies are frequently called altcoins.