FOLLOW US ON TWITTER



FOLLOW US



img/blogimg/crypto.jpg


@theprodevelopers 271

Do you know what is crypto currency (BTC, Ether etc)?


2023-03-24 19:47 · 4 min read

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies are decentralized, meaning they are not issued or controlled by any government or financial institution.

The first and most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Bitcoin is based on a decentralized ledger technology called blockchain, which is a secure and transparent database that records all transactions in the network.

Each cryptocurrency has its own unique features and uses, but they all share the following characteristics:

Decentralized: Cryptocurrencies are not controlled by a central authority or institution. Transactions are processed and verified by a network of computers called nodes, and each node has a copy of the ledger.

Secure: Cryptocurrencies use advanced cryptography to secure transactions and prevent fraudulent activity.

Transparent: Transactions in the blockchain are publicly visible, but the identity of the users is not revealed.

Immutable: Once a transaction is recorded in the blockchain, it cannot be altered or deleted.

Limited supply: Most cryptocurrencies have a limited supply, which makes them scarce and valuable.

Cryptocurrencies can be bought and sold on digital currency exchanges, and can also be used to purchase goods and services from merchants who accept them as payment. As with any investment, the value of a cryptocurrency can fluctuate greatly and should be considered carefully before investing.

What is Bitcoin?

Bitcoin is the world's first and most well-known cryptocurrency. It was created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto. Bitcoin is based on a decentralized ledger technology called blockchain, which is a secure and transparent database that records all transactions in the network.

Bitcoin operates independently of any central bank or government, and transactions are processed and verified by a network of computers called nodes. Each node has a copy of the ledger, and new transactions are added to the ledger through a process called mining. Mining involves solving complex mathematical equations to verify transactions and add them to the blockchain.

One of the key features of Bitcoin is its limited supply. Only 21 million Bitcoins will ever be created, which makes them scarce and valuable. As with any investment, the value of Bitcoin can fluctuate greatly and should be considered carefully before investing.

Bitcoin can be bought and sold on digital currency exchanges, and can also be used to purchase goods and services from merchants who accept them as payment. Bitcoin transactions are fast, secure, and transparent, making it an attractive alternative to traditional forms of payment.

 

What is Ether Crypto Coin?

Ether (ETH) is a cryptocurrency that was created in 2015 by the Ethereum blockchain platform. Ethereum is an open-source blockchain technology that enables developers to create decentralized applications (dApps) and smart contracts on top of its blockchain.

Ether serves as the native currency of the Ethereum platform, which means it is used to pay for the computational resources needed to execute smart contracts and run dApps. Ether is also used as a means of exchange for other cryptocurrencies and can be bought and sold on digital currency exchanges.

The Ethereum blockchain is different from the Bitcoin blockchain in several ways. While Bitcoin is primarily used as a store of value and a means of payment, the Ethereum blockchain is designed to be a decentralized platform for building and running decentralized applications. This means that developers can create their own tokens, which can represent assets like stocks, property, or other types of value. These tokens can then be traded on exchanges, just like Ether or other cryptocurrencies.

One of the unique features of Ethereum is its ability to execute smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into code. Smart contracts can be used for a wide range of applications, from digital identity verification to supply chain management to decentralized finance (DeFi).

Overall, Ether is an essential component of the Ethereum blockchain and plays a critical role in enabling developers to create decentralized applications and execute smart contracts.

 

TAGS:






POST COMMENTS
No Comment

Please login to post comment




POPULAR POSTS

best free web hosting services...
what is new in miui 11?...
free website ssl security using cloudfla...
do you want to make money online?...
CSS3 @IMPORT RULES...
What is HTML Anchor Tag and Hyperlinks?...
How to host a web page in 10 minutes....
CSS3 RESPONSIVE UI...
Tables HTML...
CSS3 FUNCTIONS...
How to use CSS3 Overflow Property?...
CSS3 FILTERS...


RECENT COMMENTS

2022-03-05 11:05
By coder on XAMPP - MySQL shutdown unexpectedly | How to fix MySQL crash unexpectedly
2021-10-12 12:34
By abnongoke on do you want to make money online?
2021-10-12 12:34
By abnongoke on how to get a free website domain name?
2021-10-12 12:34
By solar panel for shed on what is new in miui 11?
2021-10-12 12:34
By solar panel for shed on best free web hosting services
2021-10-12 12:34
By amos tanui on free website ssl security using cloudflare


SOCIAL SHARE



FOLLOW US ON TWITTER



FOLLOW US ON FACEBOOK



FOLLOW US







Recent Blogs



Contact Us

Subscribe Our News-Letter



Kashipur, 244713
Uttarakhand, India



© www.prodevskill.com 2023. All Rights Reserved. Powered by Pro Developer