Cryptocurrency-The Power To Generation Of 2024

Debjani Kundu
Debjani Kundu  - Content writer trainee in CIA
3 Min Read

Cryptocurrency is a digital currency that is used to make online payments. It is an alternative to physical currency. Using encryption algorithm the currency has achieved high speed transaction process. The encryption algorithm is a string of data used for the secured transaction. Encryption algorithm denotes the unit of currency and virtual transactions.

Counterfeit transactions are monitored and operated in the presence of strong powerful software called blockchain systems. The currency has gained more world wide popularity in 2020. The problem in carrying physical money, fear of stealing and exchanging issues at the time of traveling have forced peoples to get plastic money like debit and credit cards, cryptocurrency etc.

Table Of Contents: Cryptocurrency has created buzz in youths. The digital token did not get the authorization of government. Let’s get a deep dive in the entire topic to discover it:

  • Is decentralization safe for transactions?
  • Is cryptocurrency safe for transaction?
  • Is counterfeit money existing in mining system?

Definatition Of Cryptocurrency: 

cryptocurrency is digitally monitored virtual currency. It is used to make online purchases like all technological goods, cars and other high-end products. It is not relying on any central authority like government regulated banks, financial institutions. The transaction is transmitted between currency wallet and public ledger. Bitcoin is the most popular currency since 2009.

Blockchain is used to upgrade and record the currency transaction of any account holder. Blockchain is a set of new blocks that is verified and upgraded in the presence of validators.Blockchains is used in several aspects including supply chain, online voting and crowdfunding. Mining is used to decode complicated mathematical problems in computing technology. Several bonds, funds can be traded securely in the presence of cryptocurrency.

Examples Of Cryptocurreny:

 The use of moderate currency has grabbed worldwide attention with the usage of debit and credit card. Cryptocurrency is the form of online currency units on public ledger.

There are different types of currency. We will discuss this in the note:

  1. Bitcoin: Bitcoin is the most popular currency that has been invented on 2009. Samahoto  has invented bitcoin. The name of the trailblazer may be a pseudonym of an individual or a groupie.
  2. Litecoin: Litecoin is an advanced form of bitcoin and gained popularity a little less than bitcoin.
  3. Ethereum: Ethereum has been invented in 2015.
  4. Ripple: 
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By Debjani Kundu Content writer trainee in CIA
Birthday:24/05/1997 Working as a content writer trainee in CIA Trying to write down the thoughts regarding various factors including business,social and economy purpose.
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