How are you? By Allah's grace, I'm doing very well.

1. What is cryptocurrency? (what is cryptocurrency?)

Cryptocurrency is a type of digital or virtual currency that uses cryptography (a type of complex mathematical code) for security. It is not controlled by any bank or government. In the case of traditional currency (such as money or dollars), the central bank controls everything, but in the case of cryptocurrency, its control is in the hands of ordinary users. It is not a paper or metal currency; it only exists as data or code on the internet. For example, Bitcoin is the world's first and most popular cryptocurrency. There are also thousands of cryptocurrencies such as Ethereum, Solana, and USDT.

2. How does it work? (How It Works?)

To understand the working process of cryptocurrency, we need to know about three main pillars. First, Blockchain Technology, cryptocurrency works based on a technology called Blockchain. Blockchain is a digital ledger or account book. When someone makes a transaction, that information is stored in a 'block'. These blocks are linked to each other like a chain. The most interesting thing is that this ledger is not on a single computer, but rather, there are copies of it on millions of computers around the world. As a result, no one can change or forge information at will. The second is Mining & Verification, there is no bank for cryptocurrencies, so there are 'miners' or 'validators' to verify whether the transactions are correct or not. Complex mathematical problems are solved using powerful computers. When a transaction is successfully verified, it is added to the blockchain. In exchange for this work, the verifiers receive new cryptocurrency as a reward, which is called mining. The third is Wallets and Private Keys, you need a digital wallet to use cryptocurrencies. The public key is like your bank account number, which can be given to others to receive money. And the private key is like your PIN code or password. It gives you the right to spend money. If you lose it, all your money will be lost forever.

3. The Transaction Process

When you want to send someone crypto, you send a transaction request from your wallet. This request is spread across the blockchain network around the world. The computers (Nodes) on the network check to see if you have enough money in your account. Once verified, the transaction is included in a block. The block is added to the chain and the transaction is irrevocably completed.

4. Why do people use it?

It is almost impossible to hack or commit fraud. Where banks take days in international transactions, crypto works in minutes. Each transaction is publicly visible (but whose money is hidden). No bank or third party has to pay additional fees.

Conclusion

Cryptocurrency is a combination of mathematics and technology that gives people complete control over their money. While it has created huge profit opportunities, it is also quite risky due to its technical complexity and volatility. Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

Me behind the camera & keyboard

I’ve always loved sharing my passions with you — from crypto and movie reviews to photography, storytelling, and blogging. Now, continuing that creative journey, I’ve stepped into a brand-new world — Gaming ! 🎮 | 🎥 On my YouTube channel Bokhtiar The Survivor — I’m consistently working to bring you the raw thrill of my gaming experiences — the emotions, the excitement, and those unforgettable moments that make every game feel alive.