Social Media Companies Join the Crypto World: Facebook and VKontakte

The cult of cryptocurrencies is rising with each passing day. But to understand the reason behind this, it is quintessential to know what exactly is cryptocurrency? Cryptocurrencies are digital currencies set up by groups of individuals and secured using cryptography. It is basically a form of digital ledger. Usually, cryptocurrencies are based on the technology called blockchain. A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

Thus it contains a detailed list …