Introduction To Cryptocurrency
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Cryptocurrency is a digital medium of exchange that operates independently of a central bank, utilizing cryptographic techniques for secure transactions and the creation of currency units. The first cryptocurrency was Bitcoin, introduced in 2009, and now there are hundreds of alternatives known as altcoins. Cryptocurrency transactions are confirmed by network users' computers, which are rewarded with currency for their verification efforts.
Introduction To Cryptocurrency
- 1. Introduction Crypto Currency :- • Crypto Currency simply means digital currency • A medium of exchange like normal currencies • Designed for the purpose of exchanging digital information • Exchanging process made possible by certain principles of Cryptography. • Cryptography: -Used to secure the transaction -Control the creation of new coins
- 2. What is Cryptocurrency ? • Digital currency or digital money is an Internet-based medium of exchange distinct from physical (such as banknotes and coins) that exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership. • Cryptocurrency - A digital currency in which encryption techniques (cryptography) are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. • The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often referred to as Altcoins.
- 3. Why we use Crypto Currencies? • Specially designed to take advantage of the architecture of the internet • Transactions are checked, or “confirmed” by the computers of the users on the currency's network • Computers that verify the transactions receive a small amount of currency as a reward
- 4. Top 10 Cryptocurrencies 2018 :- • Bitcoin (BTC) • Ethereum (Ether) • Ripple (XRP) • Bitcoin Cash (BCH) • EOS • Cardano (ADA) • Litecoin (LTC) • Stellar (XLM) • IOTA • NEO