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What is Cryptocurrency?
Cryptocurrency is any form of Currency that Exist digitally or Virtually. Cryptocurrency don't have a Central issuing or regulating authority, instead of using a Decentralized system to record transactions and issue new units.
It is a peer_to_per system that can enable anyone anywhere to send and receive payments.
Crypto payment exist purely as a digital entries to an online Database describing specific transaction.
When you transfer cryptocurrency funds, the transaction are recorded in digital Wallet. Cryptocurrency received it's name because it uses Encryption to verify transaction - this means advance coding is involved in storing and transmitting crypto.
The aim of Encryption is to provide security and safety.
Units of cryptocurrency are created through Mining, which involve using computer power to solve complicated mathematical problem to generate coins.
If you own a cryptocurrency you don't own anything tangible what you have is a key that allows you move a record or a unit of measure.
Cryptocurrency are usually built using Blockchain Technology.
To be continued.
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