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An Overview of Cryptocurrency

Cryptocurrency is a digital asset designed to perform the secured transactions using cryptography. Some popular Cryptocurrencies are Bitcoin & Ethereum. The digital currencies can be exchange & transfer from peer to peer without any intervention of Government, Financial Institutions & Banks.

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An Overview of Cryptocurrency

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  1. An Overview Of CryptoCurrency

  2. What is CryptoCurrency? • The CryptoCurrency was launched on 09 January 2009 by Satoshi Nakamoto as Bitcoin. It is the first release of Bitcoin which is the new electronic cash system that uses a peer-to-peer network to prevent double-spending. • CryptoCurrency – Next Generation Digital Currency designed to perform the secured transactions using cryptography. Some popular CryptoCurrencies are Bitcoin & Ethereum. • The digital currencies can be exchange & transfer from peer to peer without any intervention of Government, Financial Institutions & Banks.

  3. Most Common CryptoCurrencies • Bitcoin: It is the first CryptoCurrency in the world. It was created by Satoshi Nakamoto in 2009. • Ethereum: It is the programmable currency that allows developers to build distributed apps and technologies. It does not support Bitcoin. • Ripple: It is the famous CryptoCurrency which doesn’t use a Blockchain to reach network-wide transactions. It is faster than the Bitcoin & makes it vulnerable to hacker attacks. • Litecoin: It is the CryptoCurrency created as the ‘digital silver’. It is the fork of Bitcoin that generate blocks 4 times faster & 4 times the maximum number of coins at 84 mln.

  4. Some Common CryptoCurrencies Are Bitcoin Ethereum Ripple Litecoin Monero

  5. How Does CryptoCurrency Work? Balances – Blockchain The Blockchain is the public ledger in which confirmed transactions are saved easily. The currency coin wallet calculates the new transactions & spendable balances which will be verified with the spender coins. The integrity of the Blockchain worked with the cryptography. Transactions- Private Keys The transaction is the transfer of the digital money between the coin wallets that get updated in the Blockchain. The secret information kept in the coin wallets is called private key. It is used to sign the transactions as the mathematical proof to check that the money has come from the wallet owner. 

  6. CryptoCurrency Online Exchange Platforms Kraken Coinbase Coinbase is the most popular Bitcoin online exchange in the US. It is the US-based CryptoCurrency exchange platform. Bitrush Anycoindirect It is the European CryptoCurrency platform. It is the European CryptoCurrency online exchange wallet. Gemini Cex Gemini is the CryptoCurrency exchange and trading platform It allows to buy Bitcoin with bank transfer & credit cards.

  7. CryptoCurrency Market CAP

  8. Why Use CryptoCurrency? • Payment freedom is one of the important reasons to go with the coin technology. The absence of the centralized governing body indicates that when you send coins to someone, you can easily send money directly to their addresses within the day. CryptoCurrency offers global payment system that is secure, cheap and fast. • It has the lower risk for the merchants. Once the transaction is verified and recorded in the Blockchain, it cannot be reversed. This mechanism inhibits the frauds to conduct business online. The coin wallet can be used by anyone to expand its markets. • It has the transparent transactions service in which the owner can have the complete Bitcoin transaction history which is available in the Blockchain. The cryptographic secure protocol makes the coin difficult to be get manipulated by anyone.

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