In recent years, there has been a growing trend in the use or at least the publicity of digital currency. Being a programmer, maybe I should have a bit more confidence in what is digital, but honestly, these currencies make me think. It is precisely these thoughts and the fact that I was asked for my opinion, and not just once, that made me write this article.

Like any digital information that has value, we think that these currencies use encryption algorithms (the English translation being hash algorithm).

Let's start by listing these currencies (did you really think there was only one: BITCOIN):
1. Bitcoin (BTC) – invented in 2009 by a programmer or programmers known as Satoshi Nakamoto; hash algorithm – SHA-2;
2. Litecoin (LTC) – appeared in 2011, founded by Charles Lee; hash algorithm – Scrypt;
3. Namecoin (NMC) – also appeared in 2011 and founded by Vincent Durham; hash algorithm – SHA-2.

And you can believe me or not, but there are a total of 26 such currencies, one of which has become inactive (the inactive one is Coinye). The other currencies are: Peercoin – 2012, Primecoin – 2013, Ripple – 2013, Gridcoin – 2013, Dogecoin – 2013, Emercoin – 2013, Omni – 2013, Factom – 2014, DigitalNote – 2014, Monero – 2014, Synereo AMP – 2014, Auroracoin – 2014, BlackCoin – 2014, Gulden – 2014, PotCoin – 2014, Burstcoin – 2014, MazaCoin – 2014, Titcoin – 2014, Nxt – 2014, Dash – 2014, Ethereum – 2015, Zcash – 2016.

From my minimal knowledge of economics, and please confirm or deny this using the comments section, any strong currency of a country or community is backed by a real value such as the gross domestic product of that country or community, gold reserves, or other valuable goods. This very fact makes me wonder, what backs these Cryptocurrencies? Just an encryption algorithm or do they also have real value? If they have real value, what is it?

These currencies appeared from the need for freedom from any government. Practically, these currencies cannot be controlled by any authority. This very thing makes them very attractive.

The current value of these currencies is as follows:
1. Bitcoin – over 1220 dollars;
2. Litecoin – 3.78 dollars;
3. Namecoin – 0.253231 dollars.

What can be bought with these currencies? Online, probably anything you want. The website that sells gift cards eGifter accepts payment with Bitcoin. From there, you can purchase gift cards for Amazon, eBay, or even for Burger King.

So, is it worth investing in such a currency? I say we should be a little more patient. What else can I say, considering that the greatest power of the 21st century is information?! Probably in a not very distant future, these currencies will be a reference, just as we currently have the dollar, euro, or oil.