Skip to main content

Posts

Showing posts from June, 2022

How cryptocurrency works

  A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority   Its digital ledger is a computerized database using strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership.   So, Cryptocurrency is a decentralized medium of exchange having cryptography that is used for verifying and facilitating each transaction. And the mode of exchange runs on the blockchain technology that lends the current decentralized status. It is a shared public ledger that contains all the transactions that have ever taken place within a network.     How does cryptocurrency works?   According to Satoshi founder of Bitcoin, Cryptocurrency is a peer-to-peer cash system and does not require a central authority. A cryptocurrency is a tradable digital asset or digital form of money, built on blockchain technology that