Since each bitcoin will be valued higher with each passing day, the question of when to spend becomes important. This might cause spending surges which will cause the Bitcoin economy to fluctuate very rapidly, and unpredictably.

Bitcoin mining is an energy-intensive process with customized mining systems that compete to solve mathematical puzzles. The miner who solves the puzzle first is rewarded with bitcoin. The bitcoin mining process also confirms transactions on the cryptocurrency’s network and makes them trustworthy.

A hash is a function that meets the encrypted demands needed to solve for a blockchain computation. Hashes are of a fixed length since it makes it nearly impossible to guess the length of the hash if someone was trying to crack the blockchain. The same data will always produce the same hashed value.

Crypto payment provider TripleA estimates that 3.1% of Malaysians – just over one million people – own cryptocurrency. The company is just one of many to refer to Malaysia as the next regional crypto hub. But, is the hype justified?