Cryptocurrency -Part 1
Cryptocurrency
What is cryptocurrency?
Cryptocurrency is a digital or virtual currency secured by cryptography, operating independently from governments and banks. It uses decentralized technology called blockchain.
What are the largest cryptocurrencies?
*Bitcoin - BTC
*Ethereum - ETH
Advantages Disadvantages
-Speed of Exchange -Highly Volatile in Nature
-Less Transaction Fee -Not Accepted Everywhere
-No Inflation -Use of Complex Technique
-No Restrictions on Payment -Lack of Knowledge
-Use of Complex Algorithm -Black Market
-Maintenance of Anonymity -Scaling Issue & no reverse
Uses of cryptocurrency?
cryptocurrencies have a wide range of uses in present.
- Financial transaction
- Smart contract
- Invesment
- Trading
- NFT s
- Blockchain
- Gaming
- Donations
- Tokenization
Storage of cryptocurrency?
1.Hot wallets - Online
2.Cold wallets - Offline
Future of cryptocurrency?
Mainly three parts
- Innovation
- Regulation
- Market Adoption
Relationship of cryptocurrency and world
1. Economy
2. Politics
3. Technology
4. Regulation
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