In 2008, someone, or perhaps a group of people, using the name Satoshi Nakamoto published a paper to an online group that discussed cryptography(密码使用法). That paper described a process that would use cryptography to create a secure electronic cash system, now known as a cryptocurrency(加密货币). Person to person payment could be made online using a shared network of computers instead of a bank or other financial institution. Each deal could happen very quickly. The shared network of computers would also serve as the means to prove those deals safely. Getting rid of the need for a centralized banking system would open up the possibility for anyone to become part of the digital economy.
Today, there are well over a thousand different cryptocurrencies. Most are still trying to be feasible global payment system like Bitcoin. They are held back by problems affecting the entire cryptocurrency industry.
One issue is weak security on cryptocurrency websites where users either store their electronic cash in virtual "wallets" or exchange one kind of electronic cash for another. In recent years, clever thieves have broken into many of these websites and stolen electronic cash. The websites are struggling to protect their users from such thefts.
Another problem is the large number of fake cryptocurrencies that are advertised on the internet. The advertisements invite internet users to visit websites offering new cryptocurrencies. Many visitors are persuaded by the websites to buy their cryptocurrencies using actual money. Later, the webistes disappear along with the victims' money. In response to this problem, companies like Facebook and Google are limiting cryptocurrency advertising on their websites.
