Encryption currency defines electronic money that is constructed based on blockchain technology.
Individuals and individuals require a qualified agency or broker, such as a bank, in the middle to make transactions, which is time-consuming and costly. In particular, international transactions require a higher fee and more time-consuming.
Block Chain technology is a system that is written on the cloud ledger without intervention of the financial institution for transaction details between A and B, and it is a monetary system that guarantees perfect security and can be traded without authorized agencies or brokers.
The role of issuing, certifying and securing the current currency, ie, the work of the state or the bank, was rejected by a person named Satoshi Nakamoto, who was anonymous in 2009, has created the deconcentrating system called bitcoin, based on the block chain technology, for the first time in the world.
In this kind of block chain system, it is accompanied by mining, which means that information about transactions between A and B is obtained through mathematical problem-solving. It is expressed as mining because it solves the problem little by little like mining the minerals, creating a block at the end.
The mining of the crypto currency continues to generate a block chain of coins to generate a block in real time by proving the transaction and prevent the hacking, thereby enhancing the security barriers of the cryptography.
During the remittance/transaction of virtual currency, many mining devices do authentication process (connect using P2P method) for the transaction and after 51% of the