At some point or another, you must have come across the word Cryptocurrenc. Cryptocurrency has become quite popular in recent years, and everyone is chasing it. In a relatively short period of time, it has established a solid foothold in the market. Cryptocurrency is a sort of digital money that can only be used online; it cannot be used in person. Every country's government does the same thing. Currencies, such as Rupees in India, Euro in Europe, Dollar in US etc.
in the wholecountry and after that the same currency is used all over the world, similarly these Cryptocurrencie are also used in the same way.
Used worldwide. But the thing to be understood here is that the governments of all countries have no hand over these cryptocurrencies, the reason being that cryptocurrencies are decentralized currency.
Over which no agency, government or any other board has any authority, that is why the value of cryptocurrencies cannot be regulated.
Cryptocurrency is a digital currency, which is managed by Decentralized System, verification is done by digital signature on every single transaction in this currency. Cryptography technology is used in all thi process, in other words, cryptocurrency is a virtual currency based on a blockchain technology which is kept secure by cryptography technology.
Actually cryptocurrency is a peer-to-pee cash system, it is based on a computer algorithm, that is,
it does not physically exist, itexists online only in the form of numbers. The biggest thing about cryptocurrency i that it is decentralized, the government of any country does not have any right on thi currency, which is why this currency was initially termed as illegal. But since the popularity of bitcoin starte increasing, the governments of the countries have started declaring it legal, but ther are still some countries which have not declared it legal.
Cryptocurrency works through Blockchain technology that is, a record of every transaction is kept in it, all these processes are monitored by very powerful computers, and those who do mining for it are called miners. is called. When any type of transaction takes place in cryptocurrency, then all these information is recorded through the blockchain, that is, the transaction information is kept in a block. The work of encryption and security of these blocks is done by the miners, for this miners work to find a proper code for the block b solving a cryptographic puzzle.
When a miner finds the correct code, it i added to the blockchain, and then other nodes in the network verify it, a process called Consensus. If a block in Consensus is confirmed to b secure and found to be correct, crypto coinsare awarded to the miner who secures it, in fact a reward called a Proof of W ork . Although there are many types of cryptocurrencies, but some of the major cryptocurrencies are Bitcoin (BTC), Dogecoin (Doge), Ethereum (ETH) Litecoin (LTC), Tether (USDT), Ripple (XRP),
Polygon, Binance Coin (BNB). You can use 'Wazirx' for trading in India because its user interface is very simple and its founder is an Indian.
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