Introduction!
A cryptocurrency is a type of currency which uses digital files as money. Usually, the files are created using the same methods as cryptography (the science of hiding information). Digital signatures can be used to keep the transactions secure, and let other people check that the transactions are real. The first cryptocurrencies were made to be independent of government-issued currencies.
Cryptocurrencies use 'decentralized control',[4] which means that they aren't controlled by one person or government. This is different to 'centralized' electronic money and central banks. The control of each cryptocurrency works through a distributed ledger (a list of transactions shared by everyone), usually a blockchain, that serves as a public financial transaction database.Bitcoin, first released as open-source software in 2009, is often called the first decentralized cryptocurrency.[ Since then, over 4,000 cryptocurrencies (sometimes called 'altcoins', which is short for alternative coins) have been created.
How do cryptocurrencies work?
Cryptocurrencies use decentralised technology to let users make secure payments and store money without the need to use their name or go through a bank. They run on a distributed public ledger called blockchain, which is a record of all transactions updated and held by currency holders.
Investments
Cryptocurrencies are digital assets people use as investments and for purchases online. You exchange real currency, like dollars, to purchase "coins" or "tokens" of a given cryptocurrency. There are many kinds of cryptocurrencies. Even Facebook has created a cryptocurrency called Libra.
The Most Common Types of Cryptocurrency
- Bitcoin.
- Bitcoin Cash.
- Litecoin.
- Ethereum.
- Ripple.
- Stellar.
- NEO.
- Cardano. .....
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