Topic: The basics of cryptocurrency (Read 136 times)
Don't forget to join our survey on our Reddit thread! We'd love to hear your thoughts about the major problems in the cryptocurrency markets today. View the survey here: https://www.reddit.com/r/fundyourselfnow/comments/85r2tp/survey_on_the_major_problems_in_the/major_problems_in_the_cryptocurrency_market_survey/
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We’re running an intriguing survey on our Reddit thread about the major problems in the cryptocurrency markets today. Would love to hear your thoughts. We will be sharing the results of this survey after a week on our reddit page. If you’re not yet subscribed, please do so in order to have quick access on the results.
Here is the link: https://www.reddit.com/r/fundyourselfnow/comments/85r2tp/survey_on_the_major_problems_in_the/major_problems_in_the_cryptocurrency_market_survey/
We’re running an intriguing survey on our Reddit thread about the major problems in the cryptocurrency markets today. Would love to hear your thoughts. We will be sharing the results of this survey after a week on our reddit page. If you’re not yet subscribed, please do so in order to have quick access on the results.
Here is the link: https://www.reddit.com/r/fundyourselfnow/comments/85r2tp/survey_on_the_major_problems_in_the/major_problems_in_the_cryptocurrency_market_survey/
As is known paralocho, virtual currency or cryptocurrency of the most famous and valuable fantastic is Bitcoin and Ethereum. Two virtual currencies that run on the blockchain platform are said to be anti-manipulation has been traded in the stock exchange and has been accepted throughout the world as a means of exchange. Supporters of this virtual currency see that the future of the world's exchange tools is Cryptocurrency and is said to replace the Euro or USD as the world's safest and safest currency.
Having bitcoin means having ownership of shares or capital on this project. Therefore, anyone who has bitcoin is actually the investors who are investing their capital to achieve greater profits in the future. Let's say that 6 (six) years ago, investors in this area have made huge profits, let's take a look at the charts showing the prices of Bitcoin, Ethereum and all other virtual currency combinations.
Having bitcoin means having ownership of shares or capital on this project. Therefore, anyone who has bitcoin is actually the investors who are investing their capital to achieve greater profits in the future. Let's say that 6 (six) years ago, investors in this area have made huge profits, let's take a look at the charts showing the prices of Bitcoin, Ethereum and all other virtual currency combinations.
Cryptocurrency is all the rave now and if you have any plans of investing, be sure to read this and learn all the basics about cryptocurrency before taking the plunge.
Most of us are now quite familiar with the term “Cryptocurrency” but very few actually understand what this is and how it is used for transactions. Therefore, let us introduce you once again to what cryptocurrency is and how it works.
What is Cryptocurrency?
This is a type of digital currency, that uses cryptography to secure transactions. Some of the most popular cryptocurrencies today are Bitcoin and Ethereum. The currencies are transferred directly from peer to peer without any intervention of banks, financial institutions or government. The transactions are validated by “miners” who record transactions in the blockchain and prevent double spending of cryptocurrency.
Where is Cryptocurrency stored?
Cryptocurrency is typically stored in digital wallets that exist on the blockchain. These wallets can be accessed from anywhere in the world as long as you have an internet connection.
Cryptocurrency and E-money: How does the transaction work?
1. Transaction begins:
Bitcoin — User goes to an online exchange to convert fiat currency for bitcoins and stores them in a bitcoin wallet.
E-money — User exchanges e-money for an equal amount of e-value stored, for example in a mobile wallet.
2. Submitting Payments:
Bitcoin — A request is sent to Bitcoin network in order to make a purchase. Currently, there are many online merchants accepting bitcoin such as overstock.com.
E-money — The value of money to be transferred and the recipient’s phone number are entered. The money transfer is sent.
3. Verifying Transactions:
Bitcoin — Bitcoin’s decentralized peer-to-peer network of “miners” maintains a master ledger- a blockchain, to verify every transaction. It takes an average of 10 minutes to verify. Upon verification, data is broadcast to all users and the ledger is updated.
E-money — User receives an SMS to verify the mobile transaction. The e-money issuer maintains records of all transactions and customer balances.
If you are interested in buying and selling cryptocurrency, stay tuned. We will be writing an introduction to Cryptocurrency Exchange soon.
For a more detailed explanation, please check this article as well.
https://hackernoon.com/cryptocurrency-how-does-it-work-f8e70ad911ce
Most of us are now quite familiar with the term “Cryptocurrency” but very few actually understand what this is and how it is used for transactions. Therefore, let us introduce you once again to what cryptocurrency is and how it works.
What is Cryptocurrency?
This is a type of digital currency, that uses cryptography to secure transactions. Some of the most popular cryptocurrencies today are Bitcoin and Ethereum. The currencies are transferred directly from peer to peer without any intervention of banks, financial institutions or government. The transactions are validated by “miners” who record transactions in the blockchain and prevent double spending of cryptocurrency.
Where is Cryptocurrency stored?
Cryptocurrency is typically stored in digital wallets that exist on the blockchain. These wallets can be accessed from anywhere in the world as long as you have an internet connection.
Cryptocurrency and E-money: How does the transaction work?
1. Transaction begins:
Bitcoin — User goes to an online exchange to convert fiat currency for bitcoins and stores them in a bitcoin wallet.
E-money — User exchanges e-money for an equal amount of e-value stored, for example in a mobile wallet.
2. Submitting Payments:
Bitcoin — A request is sent to Bitcoin network in order to make a purchase. Currently, there are many online merchants accepting bitcoin such as overstock.com.
E-money — The value of money to be transferred and the recipient’s phone number are entered. The money transfer is sent.
3. Verifying Transactions:
Bitcoin — Bitcoin’s decentralized peer-to-peer network of “miners” maintains a master ledger- a blockchain, to verify every transaction. It takes an average of 10 minutes to verify. Upon verification, data is broadcast to all users and the ledger is updated.
E-money — User receives an SMS to verify the mobile transaction. The e-money issuer maintains records of all transactions and customer balances.
If you are interested in buying and selling cryptocurrency, stay tuned. We will be writing an introduction to Cryptocurrency Exchange soon.
For a more detailed explanation, please check this article as well.
https://hackernoon.com/cryptocurrency-how-does-it-work-f8e70ad911ce
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