Introduction of cryptocurrency
Hey Friends
I am going to introduce cryptocurrency n its origin
Cryptocurrency is a digital as well as virtual currency-usually centred around bitcoin..It had started with the origin of bitcoin in 2009, Introduced by santosi nakamoto. It is a decentralised currency.
Decentralised currency is listed in the international stock exchange and can be traded at the international level.
It has peer to peer networking system, work on the system of blockchain. Blockchain is a ledger record using blocks, which linked and secured using cryptography. It records the data of buying and selling party efficiently and in permanent way. It does not have a trusted authority or central server.
Cryptocurrency came into existance with the bitcoin mining. Mining is discovery of new coins.This mining is not done physically but with the powerful computers and CPU/GPU. Bitcoin miners are rewarded with the transaction fees and by mining increase the supply of bitcoin at exchange, done by solving some mathematical problems using special software. Miners does not look for bitcoin only but also for other crypto currencies.
There are different crypto currency listed in the different exchanges. The exchange for cryptocurrencies are -binance, nebula, poloniex,htake,bitrexx etc.
When cryptocurrency was initially introduced its value was lower than many centralised currency. It was introduced because the traditional banking system was hectic. Bitcoin was introduced as a medium of exchange, firstly used by a person to buy a pizza, for 10,000 bitcoin. After this people start using bitcoin. As it has a limited supply of 21 million, its value increases.
After bitcoin various other cryptocurrencies are introduced like- ripple, litecoin, dogecoin, peercoin, emercoin, NEO, ethereum, n so on. Today there are more than 1500 cryptocurrencies.
Cryptocurrency are known for high risk and higher return. Its price fluctuation is high.
It work on the system of key,private key and public key. Private key is way to enter into wallet and this is personal. The public key is the address over which the buying and selling activities are done.
