Basic information about what is Cryptocurrency ,what are there , benefits of cryptocurrency , how its works through blockchain technology, Crypto Mining ,where the currency can be stored, Uses of cryptocurrency and how to be hacker can hack it and caution about it.
3. What is CryptoCurrency?
The CryptoCurrency was launched on 09 January 2009 by Satoshi Nakamoto
as Bitcoin. It is the first release of Bitcoin which is the new electronic cash
system that uses a peer-to-peer network to prevent double-spending.
CryptoCurrency – Next Generation Digital Currency designed to perform the
secured transactions using cryptography. Some popular CryptoCurrencies are
Bitcoin & Ethereum.
The digital currencies can be exchange & transfer from peer to peer without
any intervention of Government, Financial Institutions & Banks.
6. Bitcoin: It is the first CryptoCurrency in the world. It was created by Satoshi Nakamoto in 2009.
Ethereum: It is the programmable currency that allows developers to build distributed apps and
technologies. It does not support Bitcoin.
Ripple: It is the famous CryptoCurrency which doesn’t use a Blockchain to reach network-wide
transactions. It is faster than the Bitcoin & makes it vulnerable to hacker attacks.
Litecoin: It is the CryptoCurrency created as the ‘digital silver’. It is the fork of Bitcoin that generate
blocks 4 times faster & 4 times the maximum number of coins at 84 mln.
Most Common CryptoCurrencies
7. Balances – Blockchain
The Blockchain is the public ledger in which confirmed transactions
are saved easily. The currency coin wallet calculates the new
transactions & spendable balances which will be verified with the
spender coins. The integrity of the Blockchain worked with the
cryptography.
Transactions- Private Keys
The transaction is the transfer of the digital money between the coin
wallets that get updated in the Blockchain. The secret information
kept in the coin wallets is called private key. It is used to sign the
transactions as the mathematical proof to check that the money has
come from the wallet owner.
How Does CryptoCurrency Work?
8. Crypto Currency Mining ?
Mining using a digital currency miner to solve complex
mathematical problems while simultaneously verifying
transaction on the digital currency network. By using the
specialised mining systems
Cryptocurrency mining is a process in which transactions
for various forms of cryptocurrency are verified and
added to the blockchain digital ledger. Miner are reward
for the each block is generated.
9. Coinbase is the most popular Bitcoin
online exchange in the US.
Coinbase
It is the US-based CryptoCurrency
exchange platform.
Poloniex
It is the Indian CryptoCurrency online
exchange wallet.
Zebpay and Unocoin
It is the European CryptoCurrency
platform.
Bitrush
It allows to buy Bitcoin with bank transfer
& credit cards.
Cex.io
WazirX is the CryptoCurrency exchange
and trading platform
WazirX
CryptoCurrency Online Exchange Platforms
13. Fast, Safe and Cheap
Easy of use and Highly Portable
Untraceable
Transparent and Neutral
Decentralized Nature
Active involvement of Users
Fewer risk for Merchant
Freedom to transact
Low inflation and Collapse risk
Why Use CryptoCurrency?