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Showing posts with the label Cryptocurrency

Cryptocurrency Basics

  Cryptocurrency is an digital currency which is an alternative form of payment created using encryption algorithm. THINGS TO KNOW ABOUT CRYPTOCURRENCIES ●It is secured by Cryptography  ●It doesn't rely on Central Banks or trusted third parties to verify transaction  ●It is powered by Blockchain ●A Cryptocurrency wallet is needed to use it. Before we dive in fully, Here are keywords to learn about in Cryptocurrency world: Block - collection of transaction data on a cryptocurrency network.  Blockchain - a technology that maintain records of transaction and keeps track of crypto and its owner. NFTs - non-fungible tokens. DeFI - decentralized finance. Private key - necessary to sign transactions and write them in blockchain. Bitcoin  (CRYPTO:BTC) - first and most valuable cryptocurrency [founded by Satoshi Nakamoto in 2009] Bitcoin Mining - process  by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain led...