What’s a cryptocurrency? Wikipedia’s definition is “a medium of exchange using cryptography to secure the transactions and to control the creation of new units.” Cryptocurrencies exist only in the digital realm; there are no physical coins or paper notes.

The world of cryptocurrency is moving really fast. Over the past 5 years, Bitcoin outperforms any other investment like gold, the stock market or real estate. "Crypto" is short for the cryptocurrency. A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets.

Cryptocurrency


What’s a cryptocurrency?  Wikipedia’s definition  is “a medium of exchange using cryptography to secure the transactions and to control the creation of new units.” Cryptocurrencies exist only in the digital realm; there are no physical coins or paper notes.


Cryptocurrency works with a similar concept in regards to value. In cryptocurrency, "coins" (which are nothing more than publicly agreed on records of ownership) are generated or produced by "miners". These miners are people who run programs on specialized hardware made specifically to solve proof-of-work puzzles. The work behind mining coins gives them value, while the scarcity of coins and demand thereof causes their value to fluctuate. The idea of work giving value to currency is called a "proof-of-work" system. The other method for validating coins is called proof-of-stake. Value is also created when transactions are added to public ledgers as creating a verified "transaction block" takes work as well.

Cryptocurrency investors usually only look at the investable landscape.  They ignore those projects that are hard (or impossible) to invest in.  This is a big mistake when considering an investment in a competitive industry.

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency and arguably its most endearing allure is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. 



Crypto currencies like Bitcoin certainly have a future ahead, but in what form is what needs to be decided. Indeed, there is a cloud overhead as to how crypto currencies can be transacted in retail segments and what would be the rate, valuation and so forth. However, there is a growing demand for many for having this form of payment accepted.



Bitcoin is a cryptocurrency and worldwide payment system; it is the first decentralized digital currency, as the system works without a central repository or single administrator. It’s basically a peer to peer payment system. Bitcoin (BTC) has over half the market share of all digital currencies today.


Bitcoin is not a currency, in my view. It is a currency + system thingamajig, a crypto creature that is unlike anything economists or programmers or money managers have seen before. Standing it alongside gold or fiat currencies or other conventional entities -- and evaluating it based on conventional notions of currency -- might be missing the point. I don't know if Bitcoin will thrive or not, but if it does, it may very well succeed precisely because of its strange hybrid nature.

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