Cryptocurrency is the money of the future!
Cryptocurrency is one of the hottest trending topic today and almost everyone has recognized its importance in today’s financial world. A Cryptocurrency is basically a digital asset and works as an exchange medium with full security of transactions and a control over creation of additional units of the currency. These are subsets of digital currencies, virtual currencies or alternative currencies.
The first type of cryptocurrency created was Bitcoin in the year 2009. Now, there are hundreds of different types of cryptocurrencies available in the market. Government has no control over the cryptocurrencies and they are totally decentralized. Satoshi Nakamoto was the person who created the most popular cryptocurrency Bitcoin and he is the pioneer of the technical system on which all types of cryptocurrencies are based.
Bitcoin is the most popular and largest cryptocurrency in terms of market capitalization, acceptance, volume and notoriety. The other popular cryptocurrencies are Litecoin, Ripple, NEMstake, Dogecoin and more.
Cryptocurrency is a digital currency which uses cryptography rules for generation and regulation of currency units. Cryptocurrencies are based on blockchain technology.It generates new blocks of coins which can be distributed. A public blockchain ledger tracks it and complex algorithms verify it. The time taken to create new blocks has gone high and verification time for transactions has also gone very high.
The result is that a number of new cryptocurrencies have come in the market. The basics of public ledger, transactions, verification and mining remains same for all types of cryptocurrencies. It is not actually worth to invest in all the available types of cryptocurrencies. Like some may be inflationary which means the value of every coin will go down with time. Experts say that the market of cryptocurrency runs on speculations and therefore this market is quite volatile in nature.