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What Is Cryptocurrency? Everything You Need To Know

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What Is Cryptocurrency? Everything You Need To Know
In 2017, an online currency known as Bitcoin was making international headlines due to a massive boom in pricing and value in online markets. The currency and many others, now known as cryptocurrencies, all benefited from this massive increase in value, with Bitcoin increasing 2,600% in value over the course of this boom and making millionaires over night.

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Cryptocurrency Explained

Cryptocurrencies are a new, digital, and secure form of currencies. They have special encryption techniques that make them virtually impossible to be tracked or be stolen.

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The Value of Cryptocurrency 

Digital currencies are tricky when it comes to their value.

Initially, they had value due to their being encrypted and secure, and now there is some fluctuation. 

Cryptocurr...

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Blockchains

  • Cryptocurrencies work in a decentralized form due to the technology engine called Blockchain.
  • Digital ledgers add on to all the transactions happening digitally, and they can be having...

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The Mining Process

The process of 'mining' is used to add new capital in the cryptocurrency database.

Mining is a verification process that works on the blockchain using a massive amount of computing power.

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A Work in Progress

Cryptocurrencies are new and constantly improved due to their digital nature.

Blockchain, the revolutionary technology is now being applied to increasingly complicated work.

Example: Et...

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Criticism of Cryptocurrencies

Cryptocurrencies have been in the news for the wrong reasons, leading to many attempts to demolish or regulate them.

The underlying technology of cryptocurrencies makes it undeniably powerful...

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