satoshifactory

Cypherpunks are a group of people who are dedicated to digital activism focusing on protecting the privacy and security of digital users using the best that cryptography has to offer.

A cypherpunk is an activist who advocates the idea of ​​using powerful cryptography and the best of technology to protect the privacy of individual people. The word cypherpunk is one of the most seen words in the world of cryptography since the 1980s. These activists played a decisive role in the evolution of cryptographic technology, used everywhere today, and the defense of our privacy on what we know today as the Internet.

XRP is the native asset of the XRP Ledger (XRPL), a network designed for fast and cost-effective payments globally. Unlike Bitcoin, which uses mining and seeks maximum decentralization, XRP was created with the goal of integrating with the traditional financial system, facilitating the connection between institutions and blockchain technology.
The XRPL uses a consensus mechanism without mining, which reduces energy consumption and allows for low transaction fees. Transactions settle in 3-5 seconds, with minimal costs usually just 0.00001 XRP, equivalent to a fraction of a cent.

In the world of cryptocurrencies, we find different types of transactions, and one of them is the Coinbase transaction. This transaction plays a fundamental role in the system of creating new coins that have never been spent. Importantly, this special transaction takes place on all blockchains.

The Coinbase transaction had its origins in the Bitcoin blockchain. This transaction does not represent an exchange between two people, but is a special transaction found in the genesis block. This transaction is responsible for generating the rewards for the miners. For this reason, the reward transactions that miners receive are known as Coinbase transactions.

The first block or genesis block is the initial piece in the construction of the entire blockchain. From there, the history of the blockchain and everything related to the cryptocurrencies and tokens that are deployed in it begins to be built. #genesis

The first block of each blockchain is called the genesis block. This type of blocks is used to start a cryptocurrency. It was Satoshi Nakamoto who used this name for the first block of the Bitcoin chain. Any blockchain will have a block with similar characteristics that starts its own blockchain. #Bitcoin