What Is Cryptocurrency and How You Would Like To See Cryptocurrency In The Feature?

Hello, I am Reza, I am a new steemit user and very enthusiastic to take the crypto academy class because I want to increase my knowledge about cryptocurrency and at the same time want to have a lot of steem power in the future. I want to take a class from professor @stream4u, on bitcoin, cryptocurrencies and public chains. There are three homework assignments that we can do, but I want to do task number one which is What Is Cryptocurrency and How You Would Like To See Cryptocurrency In The Feature?

What Is Cryptocurrency?

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Cryptocurrency is a Digital Token that we can only get on a computer or smartphone because Cryptocurrency is not real, or in other words is virtual money that cannot be held and is not physically real. Cryptocurrency is a Digital Token that cannot be counterfeited because most Cryptocurrencies are decentralized and work in Blockchain databases to store all transaction-related information, such as sending, receiving, and amounts, because working in Blockchain databases Cryptocurrency cannot be faked because transactions can only be authorized if verified by the entire block belongs to the user.

Cryptocurrencies network is based on a peer-to-peer and also decentralized so that we can say as a central bank for ourselves, we can send and receive Cryptocurrencies anytime and anywhere without the need for third parties, and in every transaction we also need a private key and a public key which we will use. The key we will get when registering the wallet of the Cryptocurrency that we want to have and the use of the Public key is for the account address and the Private key is used to sign transactions.

Cryptocurrencies are also encrypted which means that cryptocurrencies will translate data into code, and each user will have their own code to transact with cryptocurrency. We also cannot see who the transaction was made by, nor do we need a real name to be able to use cryptocurrency and transact in crypto.

Cryptocurrency is also global, meaning that the price is the same in all countries and we can carry out transactions freely between countries without being affected by the exchange rate, this is the advantage and convenience of Cryptocurrency, without third parties, without exchange rates, and the fees are not as big as conventional banks.

In running a crypto account, we don't need to trust anyone in the system because cryptocurrencies are also truthless, so just run the account according to our will.

In this case the state severely restricts our movement in handling our own finances, there are quite a lot of unreasonable tax collections to continue to extort our wealth, but with the existence of Cryptocurrencies at least until now the country has not had a loophole to enter the system and take taxes from assets we.

So I really hope that in the future Cryptocurrency can become a legal exchange in all countries, so that countries with small currencies can still travel abroad by relying on their Cryptocurrencies because they have global value. There is no need for an exchange rate between one currency to another to make purchases in a country because this will benefit one party and also a very large fee. Imagine if Americans visited Indonesia or India, they could become billionaires in this country with the dollars they have because our currency exchange rate is very small.

So my hope for the future of Cryptocurrency is to become a digital token for legitimate exchanges across the country. And I strongly believe that this will happen over time, people today are no longer stupid to be regulated by a state's private property, and the purpose of bitcoin was also created to outsmart the government.

That's all I can explain, if there are still shortcomings and errors, please let me know so I can fix them right away.