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What is cryptocurrency:
A cryptocurrency is a digital asset designed to serve as a medium of currency exchange using cryptography techniques to secure transactions. Cryptocurrency also controls the creation of additional units of currency. In simple words, a cryptocurrency is a form of payment for online goods or services. Nowadays many companies have their own currencies called tokens. Cryptocurrency works using a technique called “Blockchain technology”. Blockchain is a decentralized technology spread across multiple computers that manages and records transactions. An important aspect of technology is its security.
Top 10 cryptocurrencies by market capitalization:
|Bitcoin||$ 210.5 billion|
|Ethereum||$ 48.6 billion|
|Binder||$ 13.6 billion|
|XRP||$ 12.2 billion|
|chain link||$ 5.1 billion|
|polka dot||$ 5 billion|
|Bitcoin cash||$ 4.9 billion|
|Litecoin||$ 3.8 billion|
|Binance coin||$ 3.5 billion|
Why use cryptocurrency:
- Cryptocurrency is very fast and secure.
- It is highly portable and easy to use.
- Is unattainable
- Uses neutral and transparent.
- It is decentralized in nature.
- It has low risk and traders.
- Freedom to transact.
A cryptocurrency wallet is a secure digital wallet used to store, send and receive digital currency like bitcoin. Most coins have an official wallet or third party wallet. Cryptocurrency_wallet is a software program for storing private and public keys that interact with various blockchain And enable users to send and receive digital currency and monitor their balance.
Examples : Bitcoin Technology
- Bitcoin is distributed technology.
- It is used for mining software as well as mining hardware.
- This is a bitcoin wallet.
Bitcoin is a cryptocurrency that was invented by an individual or group of people in 2008 as the name Satoshi Nakamoto and in 2009 it was implemented as open-source software. Bitcoin uses peer-to-peer technology so that no central authority or banks can be worked with; Transaction management and issuing bitcoins are done by the network. Bitcoin is open-source. Its design is public, no one can own Or controls bitcoin.
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