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Hobbes priceHOBBES
Hobbes price calculator
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About Hobbes (HOBBES)
The Evolution of Cryptocurrencies: Unveiling The Key Features and Historical Significance
Cryptocurrencies, digital or virtual currencies that use cryptography for security, have become an essential part of the contemporary financial landscape. They offer an innovative approach to finance, challenging conventional banking systems with their decentralized nature. This article aims to delve into the historical significance of cryptocurrencies and highlight their key features.
Historical Significance of Cryptocurrencies
The roots of cryptocurrencies stretch back to the 1980s, with the development of the 'cypherpunk movement'. However, true cryptocurrency emerged in 2008 when an anonymous figure, known as Satoshi Nakamoto, released a white paper introducing Bitcoin (BTC). Nakamoto's invention was a breakthrough, laying the groundwork for thousands of cryptocurrencies that followed, including BGB.
Bitcoin's launch marked a milestone in the financial world by presenting a solution to the "double-spend" problem - a security flaw whereby digital assets can be copied and spent more than once.
Core Features of Cryptocurrencies
Decentralization
Cryptocurrencies operate on blockchain">blockchain technology - a decentralized public ledger. This means that unlike traditional banking and payment systems, cryptocurrencies operate without a central authority.
Security
Crypto transactions are secured through cryptography. Each transaction leads to a complex mathematical problem. A blockchain miner solves the problem to authenticate the transaction, adding it to the blockchain.
Anonymity
Cryptographic protocols hide user identities, thus providing a higher degree of privacy compared to traditional financial systems.
Limitations on Supply
Most cryptocurrencies like BGB have a limited supply. For instance, only 21 million Bitcoins can ever be mined, which instills value into the currency and guards against inflation.
Immutability
Once transactions are added to the blockchain ledger, they cannot be changed. This irrevocability safeguards against fraud and tampering.
Accessibility
Cryptocurrencies can be sent and received globally without the need for conversion, making it easier and more affordable to send money across borders.
In conclusion, the emergence of cryptocurrencies has disrupted traditional financial systems by offering a more secure, transparent, and efficient method of conducting transactions. Their historic significance percolates through their rapid adoption, reshaping the financial landscape globally. From trading on cryptocurrency exchanges to using digital assets for remittances in underbanked regions, cryptocurrencies continue to demonstrate their unique value and potential in today's digital age.
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Hobbes Social Data
In the last 24 hours, the social media sentiment score for Hobbes was 2, and the social media sentiment towards Hobbes price trend was Bearish. The overall Hobbes social media score was 558, which ranks 198 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Hobbes being mentioned with a frequency ratio of 0.01%, ranking 233 among all cryptocurrencies.
In the last 24 hours, there were a total of 227 unique users discussing Hobbes, with a total of Hobbes mentions of 123. However, compared to the previous 24-hour period, the number of unique users decrease by 2%, and the total number of mentions has increase by 16%.
On Twitter, there were a total of 1 tweets mentioning Hobbes in the last 24 hours. Among them, 0% are bullish on Hobbes, 100% are bearish on Hobbes, and 0% are neutral on Hobbes.
On Reddit, there were 0 posts mentioning Hobbes in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% .
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