Achievement 4 - Applying Markdown Style | Overview of Cryptocurrency

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Hello guys, welcome to my post today, I will be attempting the steemit achievement task 4 with crypto-related content. For an overview of cryptocurrency, I will be using the 4 markdown styles to elaborate on this here. Let's start below.

Brief Overview Of Cryptocurrency.

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When talking about history, we must acknowledge that it all began in a certain place, and for this heading - cryptocurrency, the idea was first introduced in the year 1980. It all started with the mindset of creating means of transaction that will be untraceable and without centralized bodies.

And in 1995 an American cryptographer called David Chaum started an anonymous cryptographic money transfer which was called Digucash, this was seen as an early form of cryptographic electronic money transfer which needed some software and also required some encrypted keys before it can be finalized (sent across to other recipients)

After some years, around 1998, a man called Nick Szabo designed Bit Gold, which was also known as the bitcoin precursor, this new invention required a user to dedicate a computer power that would be solving some crypto puzzles in order to get rewards, now if you put the theory of Chaum and Szabo you will get the same theory as bitcoin.

In Szabo's theory, he could not solve the puzzle of digital data that can be spent, that was how Bitcoin came out, this was after about a decade when a man with the anonymous name Satoshi Nakamoto developed a white paper named Bitcoin a peer 2 peer electronic cash system.

The Overview of Cryptocurrency

Now, the concept began and is now the trending topic in our current world. Alright, how do you see cryptocurrency? It is visual currency that is built on top of a blockchain technology which makes it very difficult to double spend. What is Blockchain technology? Blockchain technology is a kind of designed structure that records transactions also known as blocks in different databases which are known as chains via connected peer-to-peer nodes.

This is where cryptocurrencies operate, it can also be known as digital ledgers. In summary, they are the currency that exists outside the controls of our governmental system, this is actually because of its decentralized nature. Cryptocurrencies can be mined or purchased in the market, lol. Not local markets though, but crypto markets like binance. Not all markets have all cryptos though.

Let's Se Some Comparison Between These Two Terms

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With the massive adoption of cryptocurrency as a medium of exchange and storage of value continuing to grow, it will continue to be accessed in the space by investors, regulators, merchants, and consumers. The most important of it is that it is looking at solving some challenges that have stuck the conventional banking system. Let's briefly look at the image below.

^{Screenshot from E-zigurat blogsite}

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Here, I will stop. I trust i have made use of the prominent markdown styles of the steemit ecosystem. And I have also shared a brief info on cryptocurrency and conventional currency. Thanks to you for your time spent on my blog. See you on my next achievement post. I awaits your approval here.