cryptoAcademy season 3 beginners course-Task3; Bitcoin, cryptocurrencies and public chain by @joelmaxwell

WHAT IS CRYPTOCURRENCY AND HOW WOULD YOU LIKE TO SEE IT IN FUTURE

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Introduction

This homework will help enlightened our knowledge of cryptocurrency is all about and how we will see it in the future and I @joelmaxwell will be very happy to participate and share my knowledge through what he prof has taught prof @stream4u.

CRYPTOCURRENCIES

cryptocurrencies unlike other currency is not a printed paper currency through the bank but rather it is a digital token or virtual currencies by this I mean an online currency,currency not seent that are used or can be used in trading of goods and services,also be use as a medium of exchange in any part of the world with your personal computer or mobile device in which you will have your secured wallet.
We have alot of cryptocurrencies and it has no difference all over the world Bitcoin which is an example of cryptocurrency is known as Bitcoin in Nigeria and Bitcoin everywhere in the world.
Cryptocurrencies is a currencies that is not being controlled or managed by any financial institutions in the world but it depends on cryptography which helps in the prevention f fraudulent transactions

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Cryptocurrencies transaction and their wallet normally required public and private key that is not shareable and can not be recovered once lost.
Cryptocurrencies also make use of decentralized system in recording transactions unlike the paper note , cryptocurrency is also a source of wealth to many people imagine someone that bought a Bitcoin at #2,000 in the year 2014 and 7 year later it is now #18 million naira,some of the cryptocurrencies are Bitcoin, Ethereum,shina Inu,ada and KUSAMA COIN etc

BRIEF HISTORY OF CRYPTOCURRENCY

the story of online currency started with a cryptographer which was by name ## DAVID CHAUM.in the Year 1983 he was an American who deals on developing a system of cryptographic which was known as e-cash

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After 12 years he also develop another currency known as Digicash which make use of cryptography in making transaction confidential

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It was in 1998 that wei Dai started thinking of inventing and developing a new payment medium that will be making use of cryptographic system and the main characteristics of the invention I was for the purpose of Decentralization But in 2009 a Japanese man y name SATOSHI NAKAMOTO the released a decentralized system currency known has BITCOIN,In April 2011 another Coin was invented known has namecoin,in October 2011 Litecoin was invented.
Last month June 2021 a particular country in south America el-salvador tried legalizing a cryptocurrency but it was rejected by world bank.
Major company in the world allow the cryptocurrencies as mediuy of payment such as SWISS HOTEL DOLDER GRAND allow cryptocurrency
An airline in US that is US - based SURF and a tourist park in Germany.

HOW I WILL LOVE TO SEE CRYPTOCURRENCY IN THE FUTURE

to me I would love the cryptocurrencies to replace my country worthless paper note since it was worth and it has a very strong and secure ledger that the fund in an individual wallet is even safer than been in the bank and by this we will escape the complain of our account being hacked by fraudster.
I will also love to see the cryptocurrencies as a legalize coin in which an individual can go to any part of the country and get what he or she want and pay with the coin,it will also help individual escape bank surcharge from western union etc
Finally,I will love that here should be some investigation of some scamming coin that when you invest your money just to realize that it has disappear by this the should place a qualification before any coin an be accepted to be used as a medium of exchange to avoid the tràders or marketers to loose interest due to fear of running at a lost.

CONCLUSION

I really enjoyed the lecture and I conclude by saying that cryptocurrency as develop alot of people financially and it also make individual fund secured and very strong to the extent that it can't be easily hacked or exposed to fraudulent activity,it is also a currency that make t easy for usage,you just need your mobile eat the comfort of your home and do transaction.
Cc @stream4u