Cryptocurrency #1: Before Beginning
Hi Steemit friends,
Today I am going to start a new series, Cryptocurrency. The series begins with a brief description of what is a cryptocurrency and some information about them. Then we will discuss Bitcoin and Ethereum in details.
Cryptocurrency, a digital asset, is a means of exchange which is secured by cryptography. The name became cryptocurrency because cryptography is used to secure the transactions and creation of additional units of a cryptocurrency. They are sometimes reffered to as "altcoin".
Bitcoin is the first cryptocurrency which has been used since 2009. It uses decentralized system as opposed to centralized banking system. After the huge success of bitcoin as a cryptocurrency, several other cryptocurrencies has been created. Some of the well known cryptocurrencies are Ethereum, Litecoin, Blackcoin, Ethereum Classic, Dash, Digitalnote etc. Among them, Bitcoin and Ethereum are the most used. The upcoming article will introduce Bitcoin in details.
Hope you enjoyed reading the article. Thanks for your support.
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