Cryptocurrency for Dummies
Each one of those computers have a copy of your account, when you want to execute a transaction, you broadcast to the whole network that you want to send 50$ from your account to the store owner account, each computer check their copy, if the majority of the computers confirm the transaction and send a confirmation that you really have the requested amount, the transaction is sent to a block.
Some of those computers on this network are called “Miners”; those miners contribute their computing power to solving complicated mathematical problems, ensuring the security and validity of new transactions, then this block is mined, added to the blockchain, and the transaction is executed.
Cryptocurrency market although very promising is still relatively new, very volatile, and unregulated, so when you finish the guide, don’t think you became the “Warren Buffet of Crypto”, do your own research and invest only what you can afford to lose.
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The content is intended to offer general information only. It does not provide legal, investment, tax, etc advice.
Great post, as always! Now when one of my friends ask me to explain cryptos, I can just show him this :)!
I ve tried to make it as easy as possible
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Great Post, useful information in bite size and at one's finger tips!
thx for the nice comment
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nice post
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