Crypto Academy Season 4 Beginner's Course Task 5 : Blockchain and Cryptocurrency .

INTRODUCTION

As we know already, blockchain is a decentralized digital ledger of transactions that makes use of multiple computer systems to provide a private, secure and transparent network.

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very transaction that is executed on the blockchain is verified and secured although there is no central authority or overseer that verifies or validates these transactions. This is able to happen because of the activities of consensus algorithm, they are one of the core parts of the blockchain network.

A consensus algorithm is the process whereby a greater number of the interconnected computers (peers or nodes) on a blockchain network come to an agreement about the present update of the distributed ledger. This is to prevent unethical miners from bringing in blocks and transactions that might not be true and also to help maintain reliability, integrity, and trust between the peers on the blockchain.

On the contrary, if you talk about the Centralized system, when my mobile was lost, the passwords of my bank account were also lost to me, on which I went to the bank and talked to the representatives there and re-entered the password that the third person is saving your account. This is Centralized system.

🔹How i store/secure my keys
The previous stolen accident made sense to me and I came home and got a USB drive in which I saved all my passwords for my account details and all my keys. Now they are in my closet lock. If my mobile or my laptop is stolen or lost in an accident, usb is safe in my house. I can remove and use my account details from there at any time.

In addition to this, i have different types of accounts and different types of keys that I use to use their passwords with my name or in the name of my family or with my date of birth, because it is easy to remember that it does not forget me and it is my words that are usually i used. I saved my keys with my name, mother's name and my date of birth.
Even though another I am easy to do, I have recently said that I have written in my place of all my passwords and my account's DTLs in my place and I have been saved in my place, and it is safe to me where my family has been safe and inserted in my own house, I have been safe and writing all the same way accounts and passwords and other complete accounts, and it is safe to write, it is a good way to save it, it does not feel any difficult thing.

What is Cryptocurrency

Cryptocurrency is a form of currency that is intended to be used as a means of exchange. It is a digital currency built on blockchain technology. Blockchain technology it's the technology which enables the smooth operation of cryptocurrency. Blockchain technology on which cryptocurrency is built on is a decentralized network that handles and stores the various transactions in the system. The blockchain networks saves the data of the number coin transfered.

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Blockchain technology being a decentralized network actually makes it so that the data's and information are not being stored on a central server or location but evenly spread among the computing power all over the globe making it very difficult for hackers to breach and unlike our fiat money operated by the financial establishment like banks which makes it so that we will have to go through some process and the middle before accessing our funds or carrying out transactions, cryptocurrency being digital and decentralized makes it so we won't be requiring any middle man before carrying out a transaction.

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Cryptocurrency is not being controlled by a body or the governmental system like fiat money so this also means that the value is not being stabilize by the government but rather the value of cryptoassets is dependent on the emotion of the investors if they are greedy or fearful. Cryptocurrency is a free and open market for all from any part of the world and simply controlled by the simple law of demand and supply. Being built on top of blockchain technology offers it users more security than the traditional financial system.

Well the birth of cryptocurrency was in 2019 when Satoshi Nakamoto developed the first ever crypto asset which we all know as bitcoin which has indeed being the stepping stone in the making of all other crypto asset. Cryptocurrency came and solved the major problems of fiat and is indeed the currency that offers us much more in terms of value, security, speed transaction with lower fees and with it's emergence has indeed truly opened our eyes to the flaws of our fiat money and the huge benefit of blockchain technology as many crypto asset are still being developed even at present.

Cryptocurrency fulfils everything a currency was design to do, a means of exchange.

My Future View Of Cryptocurrency
Cryptocurrency is indeed gaining wide adoption the world over, from shops to institutions and some countries are accepting cryptocurrency as a means of exchange and a payment method. If we look at our traditional financial system and it's many flaws one could easily see why cryptocurrency could gain even more world wide adoption as our world is heading toward an era of more advanced technology.

If we look at our system today we would easily see that the future is in blockchain technology and it's decentralized nature, no body wants to be in a system where your every move is monitored and controlled by someone, decentralization offers man what it's most want which is freedom yes financial freedom. We all want to be in total control of our assets and being free from the privacy invasion of the centralised financial system today.

Decentralized network of cryptocurrency has given us what we all want and solves the problems prevalent in our traditional financial system by offering us everything our flawed system could ever offer us and much more than it ever could, a faster transactions, a lower fee in carrying out transactions, a secured transaction, full control over our assets, being assessible to anyone from the world over without restrictions, elimination of the Intermidiaries and much more. With the huge benefits that cryptocurrency offers i believe it is only a matter of time before everyone key in on it and see how it solves our problems in regards to finance.