Hello my beautiful people of Steemit, today I come to present you my homework of the special class of the professor @levycore, it was a class that explains you a little more about the whole world of blockchain, and if you are a new member of the community, this information will open your eyes a little and you can know what this world is all about, I assure you that you will fall in love.

The fundamental difference that makes the difference between cryptocurrencies and the conventional financial system is the regulation that does not exist in cryptocurrencies, that is, that cryptocurrencies are not regulated by an entity or bank, this digital currency was created based on cryptography and works under the blockchain system, which is backed by the network and protected by an encryption system that is almost incorruptible, which means that it is hack-proof, which gives users the assurance that their assets will be protected. When we investigate a little more about cryptocurrencies we can see the transparency that is in this new economic system, everyone involved can know and know where all the transactions we make go, because it is recorded in a digital ledger, which everyone can see and know each transaction and each block. The great thing about this financial system is that it is autonomous and is not governed by anyone, but by a large server on the network that is managed by all servers worldwide and all the necessary information is on the network in this blockchain.

And the conventional financial system for many of those who already know the world of cryptocurrencies, we can say that it is full of many regulations, first is dominated by an entity or person who owns the bank and has total control of all decisions and operations that can be done in a bank, it is a very vulnerable system that can suffer hacking or modification of user data by a person who wants to alter such private information. Your users cannot know where their funds go in the case of commissions charged by the bank for each transaction they make, your account can be arbitrarily blocked or suspended without your authorization, just as it can be liquidated without your knowledge or authorization to do so. And each bank is only located in the country of residence, very few conventional financial systems have international banks.

For more than 20 years we have been living in a completely digitalized era, but it has been evolving and updating more and more, it was essential to create a type of digital financial system, because it is what is governing much of our lives today, years ago we saw in the movies forms of digital payments, because it was already something that man was creating, I think that for this reason a decentralized economic model was needed, because the modern generation is very independent and autonomous, so they are able to generate income from the comfort of their homes using the Internet.

So the need for a decentralized system is created to be used by everyone, the way a person wants to use it, we have always dreamed of being able to own our own money and use it as we wish, but placing it in a bank involves many restrictions or regulations, the only way this would not be so, is that we leave our money under the mattress in our house, where no one will charge us commission for keeping our money. This is why there is a need for a decentralized system, where people own their assets, where they can use it for whatever they want, where there is transparency of all transactions that are made with their assets and where it is a system that is not governed by one person, but a system that belongs to everyone who uses it. We are all part of the decentralized system and we can all make it grow.

This works as the principle of supply and demand, when more people are investing in a cryptocurrency, this increases its value, but nothing guarantees that its value will be maintained over time, the cryptoasset market is very volatile and no one can predict for sure when a currency can rise or fall suddenly. But we can name some factors, such as a news that impacts the cryptoassets market, for example when TESLA informed that they would accept Bitcoin to buy their cars, this made everyone in the crypto world run to buy Bitcoin which makes its value increase, we can also talk about a factor of buying and selling, as long as there are many people interested in a cryptocurrency for purchase, this makes its value increase. If a cryptocurrency generates trust, it is possible that people are willing to invest in it, to maintain its value over time as an investment. If we see that there is a rise in the sale of a cryptocurrency and no one wants to buy it, this can also cause its price to fluctuate in the market.

To be a high-end miner, which means that you have a high level of computing, you have to invest a fortune in the necessary components for mining machines, which are very expensive and not everyone can afford to have this type of technology, therefore, it is said that not everyone can be a miner, but nowadays there are many ways to be able to mine in a very easy way, from a normal computer that you have at home, it is a form of cloud mining, you just pay a subscription in a cloud mining platform that allows you to mine using your computer.

There are many companies that take advantage of their economic utility to invest in these mining machines and also allow users to enter the network, to perform the work of mining that end up paying the cost of these machines, we know that miners charge in cryptocurrency for each block they manage to create. So the company earns by mining cryptocurrencies and also earns by allowing other users to do mining in the cloud. But to be a miner you need certain skills to be able to solve the puzzles and mathematical problems involved in mining, both intellectual and computational.

The transparent system refers to the way all the processes with cryptocurrencies are handled, there is a ledger that is made public, so that everyone in the blockchain world can see it, also because each user can see where their assets are going and can really know the fate of their cryptocurrencies, all operations or transactions in the blockchain network are visible to the public, each commission or each purchase and sale, you can see to what fund they are moving. So it is a system that is not hidden from everyone's view, as it happens in banks, where you do not know where the commissions they charge you for their services are going. Here the transactions are made from person to person, without intermediaries, that means that they are direct transactions, that do not take days to become effective, they are instantaneous, and you can see the real operation when it is done, in the blockchain network you have the great opportunity to see everything, there is nothing hidden, only your password.

In my country Venezuela has been developing the issue of cryptocurrencies for some time, if we talk from the virtual games that pay you in bitcoin and allow you to exchange them for the national currency, which has been a great help for people who do not have a stable job or do not have a living wage to support their family, also in the last two years we have seen the great opening that businesses have had to accept cryptocurrencies as a form of payment. It all started with the creation of the "Petro" which is a Venezuelan cryptocurrency that gave openness to other cryptocurrencies in the country, and now we can pay for many products using our virtual wallets, they already accept bitcoin, litcoin, EOS and there are many businesses that are investing in them. This is a great relief for many Venezuelans, because it allows us to breathe a little over the hyperinflation we are living, not everyone has the opportunity to earn cryptocurrencies because of the bad Internet connection that my country suffers, but I know that now we have a new alternative in the world of cryptocurrencies. I can also tell you that we have machines or ATMs to buy bitcoin in the city of Caracas.

Here in the image we can see how there is already a famous store in Venezuela Traki nationwide, which is accepting cryptocurrencies as a form of payment and many people are making use of these alternatives.

As a conclusion I can say that this blockchain system has been the best creation for the world of economy and for all its users, because previously we only depended on the governance of the centralized banking system, and they were the owners of our money, because they had the power in their hands to do anything, both with our data and with our money, there are still many stories of many banks that went bankrupt and embezzled their customers.

The blockchain has a great future and has had an excellent reception in the market, because it is a way to overcome inflation in many countries and gives you new opportunities to buy your products, we are already talking about buying even cars with cryptocurrencies and this is crazy, it is the beginning of something big. The blockchain has many benefits that people appreciate, such as its transparency, anyone can have cryptocurrencies as long as they have a computer or a cell phone, the freedom to own your assets and a system that is governed by all its users.