Crypto-Academy week- 14, Homework post for @levycore

1 First transactions that is been done on cryptocurrency don't need third party evidence or approval like other commercial transactions like in the bank and Government that's why transactions on cryptocurrency is known as decentralized transactions that doesn't involve compensation both before and after the transactions only the miner's who monitors the transactions are commissioned from the crpyto money used.

2.Decentralized system is needed because is much reliable and comfortable unlike centralized nature of transactions that requires third party to act like intermediary and administrative cost is involved, decentralized transactions are carried directly to the sender and the recipients and the miner's keeps records of all who participated in the transactions through computer.

3 Economy, demands and supply affects the value and growth of cryptocurrency, when the demands is much the availability will be limited, and the more people Invest the more value grows.

4 Everyone can't be a miner because the calculations in converting the cryptography needs people with special skills and adequate systems, devices and computers.

5 It's more transparent because transactions are been recorded and monitored by the miner's directly from the system and it's safe and practical.

6 Research has shown the rate of Nigerian investment on cryptocurrency.A

2020 online survey by data platform Statista found that 32% of those Nigerians who took part used cryptocurrencies - the highest proportion of any country in the world.https://www.statista.com/chart/18345/crypto-currency-adoption/

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