Now the ๐ก idea.
Long befor now, humans leaved with the idea of trade by batter; John has yams but has no oil to eat them with and he has no meat also, he looks for someone who has this things, someone who also needs yam, and then give them some of his yams in exchange for oil and meat. This is quit simple right?
Now Joy's child is sick and she needs someone to treats the child, and she has beans, but the doctor has Alot of beans already as, almost everyone has been trading beens for treatment for a week, but the doctor needs yam, and Joy don't have what the doctor needs, but needs what the doctor has (treatment) now what does she do? That's how it became complex but the doctor on the other hand says to her, why don't you keep your beans and put in writings, you owe me 5rubbers of beans for treatment and when when Mr John needs beans, I can give him the paper and collect yam from him, then he comes with the paper and collect beans from you! Now its better right? That was how money came about (it was more of a legal tender)
Today we all know what money is, its hard Currency and over time has been used and acceptable for exchange just like the written note. And now you can even send and receive money form your phones electronically, but I'm doing this you incure so many cost, (cost of keeping it in a bank, cost of transfer, cost of notifications, cost of maintenance of ATM and account, etc just name it) and you're also at Risk of losing then one morning when someone gain access to your account without you knowing, remember you are not the only one who have access to your account, the bank and banks do, even the government do
So they was the creation of the new digital money some years ago, In 2003, on the blockchain technology, which protects and keep your money digitally, with you having absolute control over what happens in your account, and how much information you want to give out.
The very first was the bitcoin, followed by the ethereum and many others. Even when this digital money are in your control, if you give access of your account to some, you can loss all you have, so your key code and passwords are to be kept very well. And never send your key code or your password to anyone, anyone who ask you for those are not to be trusted, not even me
Just like the hard currency $#ยฅโฌยขยฃ etc, the cryptocurrency currency has an ability ti grow and grow faster than the hard currency, can still fall too from 2003 to now the bitcoin has grown form a few dollar to thousands of dollars and ethereum to hundreds and still growing
Just like the hard currency, the cryptocurrency has their hard cap, the have a particular amount that is issued out, till otherwise started, and the lesser they are the more their value increases.
