What is cryptocurrency? Cryptocurrency work process.

Cryptography is a technology used in computer engineering called cryptography. When spoken in Bengali, it represents the wisdom of knowledge. It is a computer science department responsible for security and communications, researching various ways to hide information. In the case of ATM cards, account passwords, or e-commerce, cash security is a matter of urgency. In these cases, cryptography has become an important technology. Its latest offerings are cryptocurrency or digital token currency.

What is cryptocurrency?
The term "cryptocurrency" refers to a kind that is a digital form of currency. No government or state produces or distributes it. It is a digital or digital currency protected by cryptography and is virtually impossible to counterfeit. Efforts to invent cryptocurrencies have been going on for a long time in technology. Researchers have long been aware of the potential for cryptocurrency to revolutionize the monetary system. But they failed to solve all the related problems together. Finally, in 2006, an unknown researcher (Satoshi Nakamoto from Japan) published a research paper on the exact solution of these problems. And the name of the solution he gave is block chain. The block chain algorithm process initially takes a very short time (5 minutes) to generate/produce a coin, but its complexity increases over time. Currently, a coin is generated in more than 15 days. The complexity of this process determines the price of the cryptocurrency. Bitcoin, One Coin, Doge coin are currently the most popular and widely accepted cryptocurrencies.

How does cryptocurrency work?
Cryptocurrency markets were fragmented, meaning they were outside any central authority such as the government.
It is also based via an internet-connected computer. But, cryptocurrencies can also be purchased, traded, and exchanged in wallets. If one person wants to send a cryptocurrency unit to another person, they usually use a digital wallet.
It is confirmed via an operation known as mining. Transactions are not considered complete until the block chain documents them. It is the way block chains for new tokens of cryptocurrency are usually made.

What is a block chain?
Block chain = Block + Chain in this system, each block is an account in which each transaction is managed in a chain management manner. Each block ensures a high level of security by using hashing so that no one can interfere here. Block chain is a P2P network where the data of each block chain block can be verified by anyone connected to the Internet. Simply put, a block chain is a widely distributed laser. Flexible and secure technology where no one will create a work ethic if they want.

Some of the most popular cryptocurrencies today

Bitcoin (BTC):
Bitcoin is the world's first and by far the most popular cryptocurrency. It was created in 2009 by Santoshi Nakamoto. Bitcoin has risen in value in a very short time. At present, the value of a bitcoin is more than 39 lakh rupees.

Etherium (ETH)
Just as Bitcoin is a popular cryptocurrency, so is Etherium, a popular virtual currency (cryptocurrency). It was created in 2015 by Vitalik Buterin. It is also known as ether. Currently, Ethereum is the second most popular currency after Bitcoin. It works based on decentralized block chain technology.

Litecoin (LTC)
Litecoin is a type of virtual money. It is a decentralized peer-to-peer currency. It is used to facilitate peer-to-peer payments on an instant basis. Charlie Lee created it in the year 2011. Currently, it is used more than bitcoin worldwide. Its transaction time is very short, and some of its features are quite similar to the features of Bitcoin.

Dogecoin (DOGE)
Dogecoin is a hot topic right now. It was created in 2013 by Jackson Palmer and Billy Marcus. People made this coin for fun, which later became very popular, and people started investing in it after seeing which its value increased. Famous businessman Elon Musk also invested in it to support it. Dogecoin has made its place in the market in a very short time. Its value has increased rapidly in the last few years.

Cardano (ADA)
Cardano is a relatively new cryptocurrency. But this has caused quite a stir, and this cryptocurrency is widely used everywhere. It validates transactions through a state-of-the-art Proof of Stack process that consumes much less energy than other Boro cryptocurrencies.

Ripple (XRP)
The digital technology company Ripple Building Team has created up. It serves as a network designed to facilitate the exchange process of various currencies, such as the Fiat currency and other major cryptocurrencies.

Solana (SOL)
Solana's M-Cap is over $ 20 billion, and it first came to market in 2020. It has made headlines for its unique hybrid Proof of Stack and Proof of History mechanisms that help process all transactions quickly and securely.

Polkadot (DOT)
Polkadot came on the market in 2020, and in just one year, its price increased from $ 2.5 to $ 25
Done. Polkadot's use is to create a cryptocurrency network that connects different block chains to work together.

Binance (BNB)
The 70 billion market cap Binance Coin is currently the third most popular cryptocurrency. It can be used for booking when trading, processing payments, or arranging trips. There are also opportunities to trade or exchange with other cryptocurrencies, such as Ethereum or Bitcoin.

TRX currency
TRX tokens can be used to gain access to certain operating system functions. The primary purpose of the token is to be used on the Tron. Tron network. But it is still an investment of value and can be traded on the exchange, so it can be called an electronic currency.
On the other hand, TRON is a fantastic cryptocurrency with many potentials. If the acceptance rate increases, the price of TRON will increase. Tron is a platform based on cryptocurrency mostly used to host entertainment applications. It is the owner of a cryptocurrency called Tronix, also known as TRX. TRX ranks 31st in cryptocurrencies concerning market value.

Some of the most popular cryptocurrency exchanges of today:

Binance
Binance is a cryptocurrency exchange digital currency exchange platform. Binance is one of the most popular cryptocurrency exchange platforms in the world. Binance first started its operations in the Cayman Islands in 2016 and is currently headquartered there. In 2019, Binance United started its activities. They operate in more than 160 countries around the world. As of 2021, Binance is on top of all other cryptocurrency exchange platforms. Their business turnover is more than 16 billion US dollars, which is much more than other cryptocurrency exchange platforms. The most widely used binaries are in Russia, Turkey, South Korea, and Brazil.
The biggest advantage of balance is that if you want to trade any cryptocurrency here, the fee is much lower, only 0.1 percent. Here you can also make cryptocurrency transactions and savings. Another benefit of having balance is that if you store your cryptocurrency for a prolonged period and use Binance, it will pay you a profit. The amount can range from 0.5 up to 10.

WAZIRX:
Wazirex started its journey in 2017 as a crypto exchange in India. Since its inception, it has gained so much popularity that it currently has around 20 million active users. It is the most popular crypto exchange medium in India. Wazirex supports over 200 cryptocurrencies. Fees are deducted based on your traded amount, which is 0.2 percent, very low.

Coinbase
Coinbase is a safe digital currency exchange service used to facilitate cryptocurrency transactions and savings. Coinbase began operations on the market in 2012 in San Francisco, USA. The current cryptocurrency exchange platform boasts more than 56 million verified customers. Coinbase currently operates in more than 100 countries.

Kraken
Established in 2011 in the United States, Kraken Currency Exchange, and banks have provided services in more than 70 countries. Kraken currently has about 6 million registered users. With this digital currency exchange platform that supports more than 50 cryptocurrencies, you will get many options to trade, which is very low. Also, the amount of fees during the crypto exchange is much less.

Gemini
Gemini is a digital currency exchange and allows customers to transact and save digital assets. It was founded in 2014 in New York. As of 2021, Gemini currently has more than 13 million regular users. Gemini also supports over 20 cryptocurrencies. Gemini currently operates in more than 50 countries, but no specific information has been released on whether it will launch one in Bangladesh. Gemini supports about 25 Fiat currencies.

In conclusion, as the popularity of cryptocurrency continues to grow rapidly, so does the number of users. The current youth society is the most popular. Here it is possible to make more profit in less time due to rapid rise and fall in prices. It is advisable to do a good deal of research on cryptocurrency before investing here. It is possible to make a good profit by investing with a good idea about the market.