WHAT IS A CRYPTOCURRENCY | HISTORY | REVIEW IN 2023
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What is a cryptocurrency?
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- WHAT IS A CRYPTOCURRENCY?|HISTORY|REVIEW OF CRYPTOCURRENCY.
- 10 FEATURE OF CRYPTOCURRENCY.
- WHAT IS DECENTRALIZED CONTROL SYSTEM?
- SCHEMA.
- WHAT IS BLOCKCHAIN OR SCHEMA TECHNIQUE?
- DATABASE.
- WHAT IS PEER-TO-PEER TRANSACTION?
- HOW CRYPTOCURRENCY IS FULLY SECURED?
- WHAT IS WALLET SYSTEM OF CRYPTOCURRENCY?
- IN SHORT TIME TRANSACTION.
- WHAT IS GLOBALLY EXCHANGE?
- HOW EASILY TO BUY AND SELL CRYPTOCURRENCY?
- WHAT IS TRADING SYSTEM?
- REVALUATION OF CRYPTOCURRENCY?
- E-CASH.
- WHAT IS DIGICASH?
- B-MONEY.
- BIT GOLD.
- BITCOIN.
- SANTOSHI NAKAMOTO
- SHA-256.
- PROTOCOL.
- NAMECOIN.
- LITECOIN.
- SCRYPT.
- PEERCOIN.
- CRYPTO TOKEN
if you don’t know what is a cryptocurrency then it’s the right place for you to understand the revaluation of the cryptocurrency better than another article the condition is that you have to read the full article and follow some steps to better understand. Ok, let's go.
What is a cryptocurrency (cryptocurrency?)
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What is cryptocurrency (cryptocurrency?) |
It controls additional units and fully verifies all
the transaction assets easily in a fraction of a second.
10 FEATURES OF CRYPTOCURRENCY
- Decentralize system
- Peer-to-peer transaction.
- Strong Data Base.
- Fully secured.
- Blockchain Technology.
- Wallet System.
- In Short time transactions.
- Globally Exchange.
- Easily buy and sell.
- Trading system.
WHAT IS A DECENTRALIZED CONTROL SYSTEM?
Decentralize the technique is one of the powerful techniques or you can say a protocol that is
made for a special cryptocurrency on which it runs and transects the whole process from
one account to the destination account easily with more secure way and maintain user’s
ledger means data or full detail information of the user as like in the banking system
we have seen a number of times to maintain a hard copy of each member of users
separately,.
WHAT IS BLOCKCHAIN OR SCHEMA TECHNIQUE?
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WHAT IS BLOCKCHAIN |
WHAT IS PEER-TO-PEER TRANSACTION?
The peer-to-peer transaction is a topology that becomes
one of the best feature of the cryptocurrency system that is, the transaction is
transect between sender and receivers only no one can interfere in them as
their thinking they transact easily in any time via internet hope u understand.HOW CRYPTOCURRENCY IS FULLY SECURED?
WHAT IS THE WALLET SYSTEM OF CRYPTOCURRENCY?
IN SHORT TIME TRANSACTION
WHAT IS GLOBALLY EXCHANGE?
HOW EASILY TO BUY AND SELL CRYPTOCURRENCY?
WHAT IS TRADING
SYSTEM
REVALUATION OF CRYPTOCURRENCY?
FROM HERE THE REVALUATION OF CRYPTOCURRENCY AS WELL AS THE HISTORY OF BITCOIN HAS BEEN STARTED
WHAT IS DIGICASH?
BIT GOLD
INTRODUCTION OF BITCOIN
BITCOIN
is first decentralized cryptocurrency was launched in the year 2009 by SANTOSHI NAKAMOTO which was used
as an SHA-256 on the base of cryptographic
hash protocol as its proof of task schema.
CONDITION BEHIND CRYPTOCURRENCY
cryptocurrencies
really knows how they work today I'm going to fix that I'm route from Simply on
and this is cryptocurrency explained this man World currencies mean in
the system for the barter system involves goods and services being exchanged
among each other.
So
now we have a situation where a man is 16 x 7 apples and oranges because it had
some glaring flaw of these flaws include having people requirements go inside
for example and your friend has five apples that you own he'll not be ready to
make an exchange for it there's no common measure of value since there's no
common measure in terms of its value of a commodity can be expressed there's a problem when you have to decide how many our to trade for one orange or
a mango, not all Goods can be divided by subdivided for example by subdivided
into different smaller units, the goods cannot be transported easily as he fits
in your wallet or your mobile phone, the goat statue cannot be taken with you
everywhere you go after realizing that the barter system Denver very well
wishes currency in Russia currency was minted in 2000, 250, 80 gold plated
Florence was introduced and this was used across Europe and from 1680 to 1980
some 1682, 1980 paper currency gained widespread popularity, and what this is
how modern currency as we know it came into existence more than currency paper
currency and coins credit cards and example Amazon pay balance on all of this was controlled by Banks and
almonds know this means that there was a centralized
regulatory Authority.
The
Limited how paper currency on credit cards work of rain friend being for your
loss paying for your lunch do you send that you sending the money to that
account. This transaction takes place accessory to play successful but there are
several ways that this could have gone wrong they could have been a technical issue at the bank for example the
systems without being down the machine's been working properly and so on that
means that the central point of failure because
the bank because the bank the user's
account would have gotten hacked for
example- The that could have been a DDOS attack or identity theft and so on
are to transfer limits for that account will exceed this is why the future of currency lights with
cryptocurrency asking but did they show that I need to transfer Bitcoins if yes processing takes
place.
Here
where is identity-checking whether they have the required balance to make that
the transaction and other things after that stunt the payments transferred and
the payment is received all of this happened in a matter of minutes and it's
a simple as that this instant removes all the problems of modern banking transfer and the no sign no central point of
failure to feel you know as of 2018 this
more than 1,600 to do currency is available currencies available some popular
ones like Bitcoin-like on that cash and a new crypto-currency crops up every single considering how much glad
they're having at the moment there's a good chance that's plenty more to come
in the upcoming years so what exactly is the currency that is meant to be a medium of Exchange currency just that
it does not have any physical embodiment it also uses cryptography of cryptocurrency.
There's a limit to how many units times did Bitcoin uses makes it very easy for
users to determine whether a transaction is valid or not they operate
independent of a bank only after certain conditions are met example for Bitcoin only after block has been added
to the blockchain with a minor be
towards Bitcoins and this is the
only way makes cryptocurrency.
So
special First latest little to no transaction cost you know that if you're transferring money from your wallet do
your bank account money you have access to money you can just walk up to your
bank at 3 in the morning and say that you want to withdraw some money there's
no limits on purchases in the drawers this freedom for anyone to use for
example if you're setting up an account in your bank you need to do some amount
of paperwork and documentation with cryptocurrencies, it only takes a minute to
seconds what's the crypto in cryptocurrencies it's a matter of encryption and decryption to secure communication to third parties
want to steal your data on the eavesdrop on your conversation to talk if he uses
256 SSD hashing algorithm that Bitcoin Ricky which is like a visual
identity of the user with dishes with everyone and a priority which is a private key signature of the user and
she keeps hitting.
So
let's talk about and she keeps hitting so let's talk about this DJ is who you
want to send it to and how much because you want to send it then it's past what hashing algorithm for Bitcoin be
used as to SJ to 5650 uses the private key
uniquely identify identified in this outfit is then distributed across the
network for people to verify this is done by using the sender's public key to people who verified the transaction to check
whether it's valid or not a known as - know after this is done the transaction and several others are added to
the blockchain but it cannot be changed again is the concepts of hashing
seem a little.
So
that you can understand better set the encryption is very difficult. Today is a
peer-to-peer Network transactions
let's talk about it as a currency that
accept it in the ATM Network Technology to
create an open-source platform for
building and blind decent lies applications now let's talk about this the
similarities between the technology that involves transactions being added to a
container call block in creating a chain
of blocks in which data cannot be ordered currency is mind using a method
called proof of work which is a form of be stetted be solved before a block and
be added to the blockchain finally these of widely used across the world now
let's talk about the differences with Redken it is used to send money to
someone this is very similar to how they live with the beta it is used as a
currency but then the network although it can be used for the actions of the electron as well you
have the option to make these transactions manual or automatic all
programmable which means that these transactions will take place when a certain
conditions are met for Bitcoin it
takes 10 minutes to perform a
transaction which is the amount of time it takes for the block to be added to the block season 2
teaser.
It
takes about 20 seconds to do is use like money for the L-word transactions and
ether is used to power to eat Sedum Network and Power relay transactions as
well eater is used as fuel sending unit work limit to how
many Bitcoins can exist 21 million
supposed to hit this number by the act to be expected to be around for a
while but not to exceed a hundred million
units are used for transactions involving goods and services and ether uses
blockchain technology to create a ledger
accounts action when a certain condition is met for Bitcoin we use an algorithm call sha-256 for hashing and
the Ethereum we use as of July
23rd 2018 1 Bitcoin equals seven thousand $7,668 for it cost $464 know what's the
future of cryptocurrencies have supporters like Bill Gates.
I
got endangered Branson who said the cryptocurrencies are better than regular
currencies occurrences on the other side quote about Nobel Prize winners in the field of economics they call it a Ponzi
scheme and meanings for criminal activities in the future is going to be a conflict between regulation they are an attacks government would want to date
late for cryptocurrencies work on the other hand the main emphasis of
cryptocurrencies ensure that their users I kept Anonymous by the Year 2020
and cheese with occupied 25% of national currencies which means the
significance a significant Stop Believing the significance of transaction is
going to be increasingly accepted by merchants in customers and it will
continue have a volatile nature which means prices will continue to fluctuate
like they have been for the last few years that we've reached the end of the article
I hope you guys found this informative and helpful if you have any feedback on
adults put them down in the comments below will be happy to help you thank you.
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