Steemit Crypto Academy Season 4 ||Beginners' Course - Task 3 : The Genesis Block by || homework post by @malikusman1
Asslam-0-Alaikum!
Hello my dear friends, how are you all? I hope that by the grace of God Almighty you will all be well and live your life happily. My post today is a homework post given by great by prof @awesononso.
(a) What is a Cryptocurrency?
(b) What is Cryptography and how does it make cryptocurrencies secure?
(c) Explore the Steem Genesis Block and Sign in as proof of completion.
A cryptographic money is a computerized or virtual cash that is gotten by cryptography, numerous digital forms of money are decentralized organizations dependent on blockchain innovationan appropriated record upheld by a dissimilar organization of PCs.Cryptocurrency is a currency that we do not need a bank or government to transact.
The first blockchain-based digital currency was Bitcoin, which actually stays the most famous and generally important.
Bitcoin was dispatched in 2009 by an individual or gathering known by the pseudonym "Satoshi Nakamoto."As of Aug. 2021, there were over 18.8 million bitcoins available for use with a complete market cap of around $858.9 billion, with the figure refreshing every now and again. Just 21 million bitcoins exist, forestalling both expansion and manipulation.
- A portion of the contending cryptographic forms of money produced by Bitcoin's prosperity, known as "altcoins," incorporate Litecoin, Peercoin, and Namecoin, just as Ethereum, Cardano, and EOS. By Aug. 2021, the total worth of all the digital forms of money in presence is more than $2.0 trillion Bitcoin at present addresses around 46.5% of the all out esteem.
For example, if I go to a fruit shop, I have a real note and I take a piece of paper and write five thousand rupees on it. If I give a fake note to the shopkeeper, he will not give me a deal because he will tell me that it does not have a bank stamp on it and it has not been published by the government. He will take real money from me and gave me fruits.
Because apparently a real note is stamped by the bank and is also published by the government.So in this deal we needed a government note.
On the other hand, if I give him gold and tell him to give me the goods, he will give goods and we did not need any government note or third party etc. In our this deal We don't need a bank or a third person in it. We transact with each other and we don't need a third person.
Cryptocurrency has no personal existence, it is run by computerized software.
Cryptography is the review and practice of sending secure, encoded messages between at least two gatherings. Cryptography permits advanced money exchanges to be pseudonymous, secure, and "trustless" with no bank or other delegate required.
Cryptography is a fundamental data security apparatus. It gives the four most essential administrations of data security:
Information Integrity:-
The cryptographic hash capacities are assuming indispensable part in guaranteeing the clients about the information honesty.
Non-disavowal:-
The advanced mark gives the non-renouncement administration to prepare for the debate that might emerge because of forswearing of passing message by the sender.
Secrecy:-
Encryption method can watch the data and correspondence from unapproved disclosure and access of data.
Verification:-
The cryptographic methods, for example, MAC and advanced marks can ensure data against satirizing and phonies.
STEP 1
First of All open your mobile browser and search https://steemworld.org/
STEP 2
- You see many options you "click on the block explorer"option.
STEP 3
- After that you write 1 in the block and "click OK"
STEP 4
- After that you saw a huge block
Block details:-
| Timestamp | 2016-03-24, 21:05:00 |
|---|---|
| Block Id | 0000000109833ce528d5bbfb3f6225b39ee10086 |
| Previous Id | 0000000000000000000000000000000000000000 |
| Signing Key | STM8GC13uCZbP44HzMLV6zPZGwVQ8Nt4Kji8PapsPiNq1BK153XTX |
| Witness | initminer25 |
| Witness Signature | 204f8ad56a8f5cf722a02b035a61b500aa59b9519b2c33c77a80c0a714680a5a5a7a340d909d19996613c5e4ae92146b9add8a7a663eef37d837ef881477313043 |
| Transaction Merkle Root | 0000000000000000000000000000000000000000 |
STEP 5
Now login to https://steemworld.org/ as a proof.
- Go to the sign in option at the top of screen.
- Enter your Username and posting key in the box
- Your account has been successfully login.
This lecture was very good and it was very helpful for me. I learned a lot from this lecture. I learned a lot about cryptocurrency.I learned more about cryptocurrency and learned a lot of new things about steemit.
SUBMITTED TO:-
@awesononso
SUBMITTED BY:-
@malikusman1