Update #64: Writing Expedition ✍️, Have Fun while Writing! || My understanding about crypto

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Hello my wonderful steemian in steemkidss, am so happy to be in your present once again, I was able to participate in the last challenge for Tuesday and it was all about craft. Today is another new thing and it’s all about cypto. I will be sharing some few things about cypto which I have knowledge about. I wish everyone success….

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I will say Cryptocurrency is a virtual currency which is using cryptography for their security. Crypto is not controlled by any big authority like the government or even any financial institution. This works on a distributed ledger technologies which is known as BLOCKCHAIN. This records all transactions which is across all the network of different computers. The most cryptocurrency which is visible and known worldwide is the almighty Bitcoin, but there’s other coin which the includes; Ethereum, Litecoin, and even Ripple.
Cryptocurrencies are sometimes used as a form of investment for people, and their value are not stable based on market demand and some factors.

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The are so many types of crypto currency but I will explain the most used and important crypto currency, the include;

• Bitcoin
• Ethereum
• Litecoin
• Ripple
• Cardano

Bitcoin:

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This is the most known and used cryptocurrency, Bitcoin is distributed , it is a peer-to-peer electronic cash that gives access for fast, trust and easy transactions.

Ethereum:

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This is not just a cryptocurrency but also a platform for distribution of applications and it’s also smart contracts, with this it make it a known choice for businessmen.

Litecoin:

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this is a peer-to-peer electronic cash system which is similar to Bitcoin but with some differences with the keys, the include faster block times and a big different in hashing algorithm.

Ripple:

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It is also a real-time gross settlement system and which the Ripple cryptocurrency allows fast and low international payments.

Cardano:

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This is also a decentralized public blockchain and a cryptocurrency project that is based on providing more scalable and secure version of the Bitcoin.

Each of this crypto currency has it own functions, hope you all leant something.

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Cryptocurrencies are not stable due to some factors, who also include their distributed nature, very high volatility, and vulnerability to market manipulation. Since cryptocurrencies are not controlled by banks and other authorities , their value can’t be stable based on the market demand and supply. , the lack of regulation in the cryptocurrency market means that there is a stable risk of fraud, scams, and other illegal activities, which can also add to the stability of cryptocurrencies market..

Thank you very much for reading my entry I really appreciate, I will love to invite my friends to participate in this contest @mesola @tripple-e @wisdom123.