- Aug 3, 2021
Cryptocurrency is a limited currency designed virtually which primarily serves as a medium of exchange in the digital market. Cryptocurrencies are released to prevent overspending with no base server or any central power in control. One cannot make more of it as a cryptography technique is used to manage the creation of newer ones.
This technique also caters to secure and authenticate transactions taking place by using Blockchain technology. Such transactions are irreversible in nature. It is transferred between peers and is confirmed in a public ledger.
The first ever cryptocurrency, known as BITCOIN or BTC was introduced in early 2009 by a programmer or a group of programmers under the name “Satoshi Nakamoto”. The staring value at that time was 0.001 USD or 0.068 INR.
Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin cash (BCH), Litecoin (LTC), Bitcoin gold (BTG) and some mainstream are widely accepted Cryptocurrencies.
Cryptocurrencies can also be used for diverse purposes. Most commonly it can be used as a medium for making payments in order to acquire some commodity or service. Brands like Microsoft, Overstock, Reddit, Subway and more accept Bitcoin widely.
Apart from this, Such digital currencies are widely used for securing investments as the price is never constant and is on the upscale till date.
On the basis of some facts and assumptions, Now concluding that Cryptocurrency is surely the next tremendous thing. To know more about it, Follow the Infographic below.