What is Cryptocurrency?
Cryptocurrency is an asset which available in digital form. It is also use as medium of exchange. This form of currency is also secure for the transactions and it's very easy to monitor the units and easy to transfer. It is just like virtual asset or virtual currency. This currency basically design for public to use electronic currency instead of physical currency. Digital currency is very easy to transfer and transaction has digital record which is easy to save.

Definition of cryptocurrency

It depends on four conditions:
  1. The first condition is that if new digital currency units is required or not? If new units are produced then the ownership of these new units and its source must be visible.
  2. More than one purchase of the same unit, than system only accept one of them.
  3. The ownership status of unit is change, system create a transaction record which issue to the current owner to show the possession off current owner.
  4. Through cryptographically you can see your ownership of currency units.

Overview:

The cryptocurrency is growing speedily and become digital asset now. The current banking system is also making the digital blocks to accept digital currency. If government banks and companies do not create new digital blocks they can't have access to the digital currency in their country. This complete cryptocurrency system is created by group of people or an individual known as satoshi Nakamoto. Cryptocurrency bitcoin is widely use by lot of peoples in the world. In May 2018 there were more than 1800 crypto units minors/authors computer technicians who record your transaction time and date. They also show you the balance and also maintain the record and maintain security of cryptocurrency. They also provide you the transaction number and specific time stamp for the transaction. Cryptocurrency bitcoin price is increasing day by day. There are other currencies design to limit the actual crypto-currency and the amount of coins circulated among peoples. Cryptocurrency benefit is that you don't need money in hand and it's very easy and secure to transfer. Cryptocurrency market capitalization is growing day by day.  Future is all about digital currency. Cryptocurrency future is very bright.

Author:

Ghias Nasir

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