Do we know what is currency? But a few people only know about cryptocurrency. Ok, what is cryptocurrency?
Unless the cryptocurrency is not a paper currency it is a digital currency.
I tell you some secrets, the word crypto is means concealed.
Nowadays it reaches the market and these are the trending topic with a kudos.
“Understanding cryptocurrency is essential.”
- Cryptocurrency — This is the form of digital assets.
- Use the money to buy assets.
- Exchanges the assets with online goods or services.
- Cryptocurrency is encrypted with decentralized digital currency.
- Here the transactions are managed by blockchain technology and the records are so secure.
- In 2008 the cryptocurrency is created and the owner is concealed but the pseudonym developer is “SATOSHI NAKAMOTO”. At now this time the identity of Satoshi Nakamoto is still hidden and secret.
- They used some paper the name is SHA-256.
Cryptocurrency Is Popular:
- The account cannot be frozen
- Transaction between peer-to-peer
- Bitcoin is easy as an email
- Lees fees
- Transparent public ledger
How does it work?
- It creates a transaction
- The transaction broadcasted with peer to peer network with nodes
- Validates the transaction
- Some of the few transactions create a new block
Types of cryptocurrency:
This is not a single coin, there are most 160 cryptocurrencies.