Bitcoin, Cryptocurrencies, Public chains.- Steemit Crypto Academy Season 5 - Homework Post for Task 5 by @peerfaizan
Hi everyone,hope you all fine.I am @peerfaizan with my another Homework task-5 of @stream4u .so let's start my homework task.
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(1) What Is Cryptocurrency and How You Would Like To See Cryptocurrency In The Future?
What is cryptocurrency?
The one of the best future of Blockchain and cryptocurrency in order to make transactions easily like a bank transactions.It does not require the use of bank.The form of these in order to avoid for visiting banks and make our transaction easily and save our time.
If we look out a bank,when we have to send mony in different countries or any part of our country.If we went our bank for this process,we have to require high fees and many working days but when we introduce cryptocurrency and blockchain technology,it makes it easy with low costs.It is best feature of this network.
I we tell about cryptocurrancy,we doesn't say it is a money in our wallet but it is that type of money which can be transferred only in internet connection and use of mobile phones and pc.It is not controlled by a single person.
some cryptocurrencies
Cryptocurrency is based on peer-to-peer network,means we does not require a third party or a bank, because it is end to end connection.In cryptocurrency if we transferred any data for another account we required some important keys.Cryptocurrency mainly requires private and public.Private key is used for sign of transaction and private key is used for account address.
If we look on drawback of cryptocurrency,if somehow we lost our private or public key,this means we lost our account and no method is to recover our account bank.So,it is important to secure and safe our keys in perticular place.
How You Would Like To See Cryptocurrency In The Future?
Conclusion
I am thankful to @stream4u to understand a well detailed lecture.I have read much and we'll defined lecture of cryptocurrency and I clear my all doubts about cryptocurrancy.