A cryptocurrency is an encrypted digital or virtual currency that prevents counterfeiting and double-spending. Blockchain technology, which is a distributed ledger enforced by a distributed network of computers, is at the heart of several cryptocurrencies. One of the most distinguishing characteristics of cryptocurrencies is that they are not issued by a central authority, making them potentially immune to government intervention or manipulation.
Blockchain is a data storage technology that makes changing, hacking, or manipulating the data difficult or impossible.
A blockchain is a distributed digital log of transactions that is duplicated and distributed across the blockchain’s network of computer systems. Each block on the chain comprises a number of transactions, and each participant’s ledger is updated whenever a new transaction occurs on the blockchain. Distributed Ledger Technology (DLT) is a decentralized database managed by a number of people . Blockchain is a distributed ledger technology in which transactions are recorded using a hash, which is a cryptographic signature that cannot be changed.
Advantages:
Disadvantages:
Bitcoin isn’t the only cryptocurrency on the market. Other currencies based on the same blockchain technology were released as its popularity grew. Ethereum, the second-largest market cap in the crypto market, is the most notable Bitcoin alternative. The currencies with the highest market capitalizations are listed below.
For Buying and Selling cryptocurrency, you just need to set up a crypto-exchange account (crypto trading account). These exchanges provide a facility to exchange your cryptocurrency into fiat currency. Following are the most popular and secure cryptocurrency exchanges in the world.
Share this Content
© 2021 All rights reserved