Crypto Academy Season 4 Beginners' course - Task 5: Bitcoin, Cryptocurrencies, Public chains: By @silencewan
Hello sir , I will like to give thanks and praises to the almighty God for adding me another day and I will like thanks professor @stream4u for giving us this great and wonderful lecture.
What Is Cryptocurrency and How You Would Like To See Cryptocurrency In The Future?
Cryptocurrency is a type of a digital currency that generally only exists electronically and you can’t feel or see the digital currency physical and are most in the device such as computers mobile Phone etc .
Cryptocurrency are mostly found on a decentralized platform based on a blockchain and this blockchain technology are used to store information you no one can have direct asses to the information store in the blockchain.
The first cryptocurrency was created in the year of 9th January 2009 by a programmer who was called satoshi Nakamoto that was the year the first cryptocurrency was created and it was Bitcoin he created.
and Bitcoin was created as way for people to snag money over the network and the reason why satoshi Nakamoto created cryptocurrency was to created a coin that stand on it own and have nothing to do with nothing to do with government or any private sector and the people really bought he ideas that was the reason why he was able to created the first cryptocurrency successful.
and again because he was seeing people struggling to make transactions and it was taking them time to complete one transaction that was also part of the reason why he was able to invested cryptocurrency and this intervention really help the world in today are we all are leaving in because you can make transactions which doesn’t time which will move at a faster rate
With the intervention of cryptocurrency it has really created more job for Many people in different kinds of the world because people depend on cryptocurrency for their means of survival .
Cryptocurrency is more cheaper and faster as compared to the bank because in cryptocurrency to make a transaction won’t waist time and as compared to the bank where in the bank if you are going to make a transaction the casher have to acts as the third people and the bank will even charges you with fees before you can complete any transaction in there but in the cryptocurrency if you are going to make a transaction the fees is less and it does not take time for you to transfer your find which is really faster
It’s impossible for any one to have access to your wallet on less you are they one who handed your keys to that person and that is difficult for anyone to hack your account but in the back for instance is easy to seal your funds and even kill you as well with your money but it’s not safe in there .
for you to own a account is for you to be seated near a device like computer or mobile phone and it doesn’t take less than five minutes for you to own an account and in order to have a direct access to your funds inside your wallet all you need to have two key which the public key which is used for the open a account and the private keys which is what you used to transfer your funds into your wallet so it’s always important to keep your keys at a safety place .
This two keys important to your wallet in a way that the public acted as a bank account number which is what you used to verified your users name and the private keys acted as a your password to your bank account number which what you can used to make transactions
Example of cryptocurrency are listed below
- Bitcoin
- Tether
- Solana
- Cardano
How You Would Like To See Cryptocurrency In The Future?
from 2009 up to now many people still don’t know cryptocurrency but its only a few who knows the importance of cryptocurrency and how it has helped In all aspect of our lives but I think is high time we thought the world the importance of cryptocurrency so that they will also enjoy with as ,
And when satoshi Nakamoto first created cryptocurrency and he first told them the importance of it and a lot of people didn’t believe they where thinking he was going to run away with their funds but it was only few people who believe in what he was really doing and because of the title bit patience they where having they enjoyed later part and those who didn’t really believe in what he was trying to explain saw a title bit improvement in those who really believe him and they started to join cryptocurrency.
Cryptocurrency has bring development into the development in a sense that people now a days people don’t really work harder to get money it has make everything looks so simple with the intervention of cryptocurrency new things has being created you help a lot of people in the world
Countries like USA are trying so hard to put a stop to currency and these are as follows
In cryptocurrency in order to have direct access to your wallet you need have your public key and private which will server as a direct link to your wallet and in cryptocurrency block once you mistakenly loss your keys and your password as well you can’t have access to your keys again and your fund will be gone waist
Many cryptocurrency is having a believe that as time goes on many people will stop using their local currency and started using cryptocurrency and they are all out doing all they can do wash away cryptocurrency
In countries fighting cryptocurrency and let it be on it own they will be jobless in the near future and people will enjoy a lot in cryptocurrency.
Conclusion
Cryptocurrency has really help in the development of the world as a whole and it make everything looks so simple and I think as time go on when we teach them about cryptocurrency they will also enjoy the title we are enjoying and once again I will like to thanks professor @stream4u for giving as this great and wonderful lecture on cryptocurrency.