The Bitcoin is a global cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The Bitcoin system is peer-to-peer, and transactions take place between users directly, without an intermediary, with your earning store in the blockchain wallet.
These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. The Altcoins are the alternative cryptocurrencies launched after the success of the Bitcoin. The Altcoins project themselves as better substitutes for Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages.
There is a great variety of altcoins. The Bitcoin may be the most well-known cryptocurrency, but there are over 500 other cryptocurrencies out there and, although many fade out after a short time in circulation. The Altcoins play a vital role in the cryptocurrency world, encouraging further decentralisation, innovation and competition. Cryptocity looks at some of the most popular.
How to turn your blog into a cryptocurrency bank allowing your users to deposit, withdraw, and transfer bitcoins and altcoins on your site Blockchain Wallet
The Bitcoin and Altcoin Wallets WordPress plugin is one core plugin that takes care of the basic accounting functionality that will enable the financial transactions on your site via Bitcoins and other cryptocurrencies in the following ways
– Accounting for your users with a blockchain wallet created for them. Data is held on tables in your MySQL database.
– A financial transaction PHP API:
Calls that let the logged in user handle their cryptocurrencies.
– A JSON API: JSON requests of the above, for logged in users.
Simple shortcodes that let you display frontend UI elements to let logged-in users do the following common tasks:
* deposit from the blockchain,
* withdraw to an external blockchain address,
* transfer funds to other users (on-site transactions that bypass the blockchain),
* view a history of past transactions
– Widgets the same UI elements available via shortcodes can also be used as widgets in your theme.
– Configure who has a wallet and who does what using WordPress capabilities.
– Configure e-mail notifications for users.
– Configure e-mail confirmations for transactions and optionally confirm transactions via the admin interface.
– Backup and restore transactions: An import/export functionality to back up transactions to and from
– Extensible architecture
* Easily install coin adapter plugins to use other cryptocurrencies besides Bitcoin.
* Easily install extension plugins that talk to the PHP API to give more functionality such as payment gateways.
You can extend Bitcoin and Altcoin Wallets WordPress plugin to work with other coins if you install coin adapters. Coin adapters are available for free to all subscribers at dashed-slug (you do not have to pay for membership)