Hello Friends,

Hope so well for all of you. First of all i want to say thanks to professor who addressed very well. Owing to his sensible lecture i am able to solve the task.

What Is Cryptocurrency and How You Would Like To See Cryptocurrency In The Future?

Crypto currencies are digital assets that can be used, transfer via internet by the mobile or computer medium. Crypto currency in actual term is defined as “A currency which functions with Cryptography on block chain. It is made up from the codes in your computer system that represents the online values in form of coins or in other form such as tokens. Crypto currencies are different from the daily cash which has physical appearance.

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The world Crypto currency is derived from the world Cryptography. It is made up from the two worlds “Crypto” means hidden or secret and from “Graph” which means to write down. In other way its mean is to write down in simple and secret way in such manners that the recipient could easily understand the real meaning.

Functions of Crypto currency:

• When we elaborate the concept of function, we must keep it in mind that there is no single authority that controls it (as like in banking system: where daily transactions could be checked). Unlike banking system, in Crypto currency the owner has full control over their assets and can do anything with them.

• Crypto currencies are digital assists which has no physical existence. Most of crypto currencies are available on the platform of Decentralization. Which are based upon the Block chain technology. In the block chain technology information is stored.

• Both terms - Crypto currencies and Block chain- are invented for facilitation of human beings. They actually perform transection same as like banks. But, in this system there is no need of any third party to execute the transactions. Transactions are made successfully without any third party involvement.

If we compare the banking system with Block chain technology then it’s clear that the world of Crypto transactions are more secure and fast as compared to traditional banking system. In the banking system the bank acts as a mediator to facilitate the transaction. Transaction may take some time and the heavy fess a depositor has to pay. But, in the Bloch Chain technology one may be able to send and receive Crypto Currencies with in no time without heavy charges.

• While having knowledge about Crypto currencies we must know about two types of keys.

Public key
Private Key

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Public key is the actual address of your wallet while the concept of private key is different. Private Key is used for transactions. Private is very important, because without private key, ones has not any proof of ownership and the coins remains encrypted. Coins cannot be stolen without the private key. So, private key must be hidden in your device.

HOW WILL YOU LIKE TO SEE CRYPTOCURRENCIES IN THE FUTURE?

In these days, everyone is familiar with the term of crypto currency. There was a time when there was no one to be familiar with this term. But, with the advancement in technologies no one can forget the online currency in form of crypto currency.

It is unavoidable reality that the future world is captured by the Crypto world. Because, there are more than 5000 Cryptocurrencies are found in the world.Following are the best crypto currencies mode at present time:

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• Bitcoin (BTC)
• Ethereum(ETH)
• Binance Coin (BNB)
• Tether (USDT)
• Polkadot(DOT)
• Basic Attention Token(BAT)
• Stellar(XLM).

One most important thing to note is that
If you want to make investment then following factors you must keep in your mind

• Transaction fees
• What is the ability speed
• Associated fees

Before investment make sure about the company its performance views about company and reliability. If you are satisfying then make investment otherwise try to save your money by making investment through authentic ways.
Crypto currencies are attaining plosive response from all the users with the passage of time. Is not restricted to only limited countries. But, the globalized world has captured the attention regarding block chain.

Bit coins prices are reaching at the record level due to investor’s heavy investment like Elon Musk are investing too much. The most influential banker, the Morgan Stanely is offering its wealth management client access to Bit coin funds. Despite its most positive regards there are certain limitations regarding crypto currencies which needs to be resolved. Otherwise it is the best platform where you can make safe investment.

SITUATION IN PAKISTAN

Crypto Currency is a glowing term in Pakistan.It is a digital technology based upon the block chain technology.
It is managed in more safe mode in which there is no chance of wasting your currency or being hacked by the hackers if you have keep your keys safe. Process of mining is happens when someone make transactions and these transactions are recorded on block chain technology.

CONCLUSION

Finally there are many positive as well as negative gossips about crypto currencies. But, despite it all it is the best platform where money can be invested in safe mode and you are able to make transactions by sitting at home places at international level. It is giving you the platform where you can move to higher stage with little bit efforts by making safe investment.

Regards:

@fiaznawaz