What is Cryptocurrency (Digital Currency)?
So far I read the post about cryptocurrency and confused because I do not understand anything about it. Then I asked some friends and started reading some blogs explaining what is cryptocurrency.
This post I tried to explain the basic understanding of cryptocurrency according to my understanding.
The development of digital currency or cryptocurrency is so fast and aggressive.
Global Fundstrat tracks there are about 630 digital money in the market. The amount is not included. The development of this financial technology began to shake the global financial services and payment systems.
But what exactly is a digital currency or cryptocurrency? Here's the review!
What is Cryptocurrency (Digital Currency)
Cryptocurrency existed about ten years ago and has now become quite popular, widespread, and surrounded by controversy over many innovative developments.
Quoting from the site Coinmarketcap.com, there are now 904 types of crypto currency and the most famous is Bitcoin.
Bitcoin also managed to hoist the price of other crypto eyes.
Cryptocurrency is a digital currency in which transactions can be done in the network (online).
Unlike paper currency that prints, cryptocurrency is designed by solving cryptographic math problems. Digital currencies are usually decentralized maintenance. That is, it is generally much safer than its centralized nature. The value of digital currencies based on cryptography comes from its scarcity, and its creation process through complicated mathematical assistance, its unique encryption value, and its trust and usage also comes from the whole community.
Cryptocurrency is the first to come and achieve success is Bitcoin, which was discovered by Satoshi Nakamoto.
The success of Bitcoin is the initiator of new types of cryptocurrency that try to compete with Bitcoin. Bitcoin market capitalization and some other popular cryptocurrencies such as Litecoin, Ethereum, Dogecoin, with speeds close to US $ 100 billion.
So many of my basic explanations of cryptocurrency. if any explanation I am wrong please fix it.
Thank you
Best regards
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thank you for your attention.
I still have to learn more about cryptocurrency.
I need a lot of advice from you about writing basic cryptocurrency.
what should i write for novice stemians. although I am also one of the beginner stemian as well.
please upvote and resteem my post.
It's cool that you're writing about cryptocurrencies. People should be aware of their benefits and you should also mention that the technology behind it called blockchain is the most important. Also, a small correction about the number of cryptocurrencies on CoinMarketCap.com. The total number is 1507 cryptocurrencies :D How can you see this? Go at the bottom of the page on the right side and click on view all. Cheers
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