Cryptocurrency – geeksforjobs


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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:

cryptocurrency 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.

Cryptocurrency Wallet:

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.
  • Blockchain.
  • 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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