Knowledge about cryptocurrency and Blockchain

What is Cryptocurrency ?

Cryptocurrency are coined from two words Crypto & Currency;

Crypto means Secret/concealed/hidden
Currency means a system of money in general use in a particular country / a commodity that is generally accepted all over the world.

So Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

What is Blockchain ?

Blockchain a digital public ledger in which transactions made in cryptocurrency are recorded chronologically and publicly.

A decentralized Digital Money without Tax, you make your transaction yourself without intermediary at any time you want to

The first Cryptocurrency Bitcoin Spike up in 2009 by the Fake Pseudo Name Satoshi Nakamoto All thanks to him.

Bitcoin was cents in 2009 now thousands of Dollars $. Just as Steem is few Dollars now it could surge up to thousands of Dollars $ in months or years who knows?(rhetorical).
Steemit is a great Opportunity for you to accumulate Steem. Think of you making just 100Steem now and when the value of 1Steem get to a thousand Dollar, your 100Steem becomes 100thousands Dollars you see!! that's power of Steem/it, Cryptocurrency.
Steem was $Cent when I got to know it, now $4+

You might have seen many critics/wars on Cryptos!? Because people like Governments, Banks think world it's getting out of their hands we can't be their smart Slave forever we are in digitalize world we have to be decentralized.
Don't be scared about any Coins with a good team, innovation you bought you have to be FUD fear uncertainty doubt just HODL.

ALTCOINS

An altcoin is any digital cryptocurrency similar to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. Most popular altcoins use the same fundamental building blocks as Bitcoin.

ICO

Initial Coin Offerings (ICO) is the hot new way to raise funds for new cryptocurrencies.
An initial coin offering (ICO) is a controversial means of crowdfunding centred around cryptocurrency, which can be a source of capital for startup companies. These tokens supposedly become functional units of currency if or when the ICO's funding goal is met and the project launches.
Etherium was raised through ICO with 3$ each for a token is now hundreds of $.

Airdrop

An airdrop for a cryptocurrency is a procedure of distributing tokens by awarding them to existing holders of a particular blockchain currency, such as Bitcoin, Ethereum or other Cryptocurrency.

Trading

Cryptocurrency exchanges or Digital currency exchanges are businesses or Websites like Bittrex, Poloniex, Binance that allow customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money, or different digital currencies.

What is Steem Blockchain ?

As we have defined Blockchain now its Steem Blockchain I guess you already know what is it !?

Steem Blockchain is next-generation Blockchain and Opensource that supports social media application and their contents; where anyone could come in with ideas/innovation and build it on the Steem Blockchain, that's is the reason why we have many platforms with different developers such as Steemit, eSteem, Steepshot, Utopian, dtube, dlive, dsound etc built on the Blockchain.

What is Steemit ?

Steemit is a blogging and social networking website on top of the Steem circle chain database. The Steem blockchain produces Steem and Steem Dollars which are magic bean tokens users obtain for posting, discovering/upvoting, and commenting on interesting content.

Where do the rewards come from ?

Steem's economic model allows for the creation of new tokens (or units of currency) at a predefined inflation rate of around 9.5% per year, going down by approximately 0.5% every year over the next twenty and a half years, until it reaches a 0.95% yearly inflation rate. These new tokens are distributed continuously to people performing actions deemed valuable by their communities.

Join with us on eSteem Discord! https://discord.gg/taNc9Qr

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