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April 04, 2018, 07:03:31 PM |
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Cryptocurrency is a digital as well as virtual currency-usually centred around bitcoin..It had started with the origin of bitcoin in 2009, Introduced by santosi nakamoto. It is a decentralised currency.
Decentralised currency is listed in the international stock exchange and can be traded at the international level.
It has peer to peer networking system, work on the system of blockchain. Blockchain is a ledger record using blocks, which linked and secured using cryptography. It records the data of buying and selling party efficiently and in permanent way. It does not have a trusted authority or central server.
Cryptocurrency came into existance with the bitcoin mining. Mining is discovery of new coins.This mining is not done physically but with the powerful computers and CPU/GPU. Bitcoin miners are rewarded with the transaction fees and by mining increase the supply of bitcoin at exchange, done by solving some mathematical problems using special software. Miners does not look for bitcoin only but also for other crypto currencies.
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