When entering the world of Cryptocurrency (aka Crypto), it’s important to know and understand not only the technology behind it, but how it works, to be able to fully understand it’s potential and why it is being coined, as ‘the money of the future!’
Cryptocurrency and Blockchain were created as a way, to make money an open source, unlike the physical dollar and cents that currently circulate the world today.
What is Cryptocurrency?
A Cryptocurrency is any form of currency that only exists digitally (aka a digital asset), that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
What is Blockchain?
Blockchain is a digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network. It is also the technology used to create such a database.
It has been said that “Blockchain is to Cryptocurrency what the Internet is to E-mail.”
Below is an example of how it works:
This blog is for informational purposes only.
This does not imply or suggest investment in cryptocurrencies.