This is a blog about cryptocurrency, what it is and why there’s so much hype around it. Because of the recent surge in interest, we wanted to give an overview of the market as it stands today. This guide will cover:
What is cryptocurrency?
What makes crypto unique?
The history of crypto.
Top 10 cryptocurrencies.
How do I buy cryptocurrency?
What do people think about crypto?
The future of crypto.
This is a blog about cryptocurrency, what it is and why there’s so much hype around it.
Cryptocurrency is a digital currency that uses cryptography to provide security. In other words: digital coins designed to be secure and anonymous. Cryptocurrency like Bitcoin and Ethereum are built on blockchain technology, which is a peer-to-peer network of computers that collectively agree on the state of the network. This allows for transactions to occur without a central authority – no middleman.
Cryptocurrency is a thing that is currently revolutionizing the world and the way we see money. In this blog, I will be taking you through what cryptocurrency is, how it works and why people are so excited about it.
Cryptocurrency simply put, is a digital currency. It uses cryptography to secure and verify it’s transactions. That’s why it’s called cryptocurrency!
Cryptocurrency is decentralized meaning no central authority issues new money or tracks transactions. This means there are no transaction fees and you can use them in every country!
Cryptocurrency uses the Blockchain technology which was invented by Satoshi Nakamoto back in 2008 to create and manage the Bitcoin network.
I’m a software engineer. You might say I’m a cryptocurrency nerd. I’ve been into them for years now, and I’ve been following their technical development closely. I thought that with all this hype around crypto, there should be someone who writes about it in simple, accessible words for people who are not technical or experienced in the blockchain space. And as it turns out, there is not! So here I am.
I promise to do my best to explain things simply and clearly. But keep in mind that writing about crypto is tricky. On the one hand, cryptocurrencies are complicated by nature – blockchains are complex systems and they are hard to understand. On the other hand, if something is complex and hard to understand, that’s usually because it’s poorly designed and/or implemented! As you can imagine, this can make writing about crypto quite frustrating at times.
So if you’re interested in learning more about cryptocurrencies without all the hype and buzzwords – you’re in the right place!
In recent weeks, cryptocurrency has been getting a ton of coverage in the news. It’s an interesting topic, but it can be complicated to understand. In this article, I’ll break down some of the basics and explain what you need to know to enter the world of cryptocurrency.
The first thing to understand is that cryptocurrency is not a physical good. Like money, it’s just a set of rules that are used to track transactions. But unlike money, there is no central authority (like a government or bank) that issues the currency or enforces those rules. Instead, cryptocurrencies rely on a network of computers around the world. These computers make up a public ledger called the blockchain, which keeps track of everyone’s holdings and transactions.
So why does this matter? Well, there are several reasons:
First, it means that no one person or organization can “print” more Bitcoin to inflate its value away from its current worth (as governments do with their currencies). Second, it means that transactions cannot be easily reversed by either party; they’re final once they’re recorded in the blockchain ledger. And finally, it means that you don’t have to trust any one person or organization to keep track of your money; as long as other people are using the same
We’re in a bit of a cryptocurrency bubble. How do I know? Because the price of Bitcoin is up 600% over last year, and everyone and their dog is talking about it.
And many of these people appear to be getting rich quick. Bitcoin’s market cap has risen from $15bn to $90bn in just six months; the market caps of Ethereum and Ripple have likewise gone through the roof.
But what exactly are cryptocurrencies, and how do they work? To answer that question, you first need to understand two concepts: blockchains, and distributed consensus.
Cryptocurrencies are a subset of digital currencies, alternative currencies and virtual currencies. Cryptocurrencies use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of blockchain technology and cryptography. Bitcoin is the name of the most well known cryptocurrency.
Cryptocurrencies have been around since 2008 but only recently have they been getting attention. It’s a booming industry which will continue to grow as more and more people become aware of it and decide to invest in it.