WHAT IS CRYPTO-CURRENCY?
Crypto-currency is digital cash, kept in digital wallet (type of private internet bank account solely controlled by you, and not the bank), transferred from person to person through the powerhouse or engine room of this revolution called the blockchain technology.
Other names for crypto-currency is digital asset, virtual money, technology based money, e-currency or cyber cash. With this technology, we are now all learning to become our own bankers. The responsibility of keeping our own money has now fallen on us, and so we will begin to learn how to transmit money on the internet, without a recourse to the bank, and this makes it imperative to learn the very simple but most important task of managing our private banks (digital wallets), and keeping our passcodes (access to our digital bank) very safe and secure.
But, not to worry, these are all new but very exciting experiences and we're all in it together.
Cryptocurrecy is general name for all coin company, is like we are talking about country, you know that we have states inside country.
That is how cryptocurrecy is, we have over 1200+ coin companies under cryptocurrecy.
How Do Cryptocurrencies Work?
Cryptocurrencies were developed as an application on top a cryptographic invention known as blockchain, hence the name cryptocurrency. Blockchain is a technology that will support multiple technologies – cryptocurrency is just one of them. But importantly cryptocurrencies, as we have them today, would not be possible without the blockchain technology. So, what is blockchain?
Blockchain
A block is a complex mathematical problem based on a cryptographic technology (called a “hash”) which computers aim to solve. Once the mathematical problem is solved, the block is ‘complete’. The important property of a block is that if you change any information inside of it – like transaction data – becomes invalid, or broken. The only way to fix it is to replace the incorrect data with the correct, original, data.
When a new block is created, it takes data from the previous block, creating a link – hence the term blockchain. In a blockchain, if any data in any block is altered, the entire blockchain from that point onwards is broken. You can think of it like a tower of wooden blocks, if you break one block in the middle of the tower, all the blocks above it topple over. The only way to ‘fix’ the tower is by correcting the data that was tampered with. In fact, blockchains are often measured in terms of ‘height’ which is the total number of blocks in the tower. So, the older the data is, the more secure it becomes. Generally, a block will be considered ‘valid’ once enough additional blocks are added to the chain in order to ensure security. In cryptocurrencies, the blockchain is used to store an immutable transaction ledger for the currency.
We have two type of cryptocurrecy.
1.Market based cryptocurrecies.
2.User based cryptocurrecy.
We have over 1200+ market cryptocurrecies in the world, but i we list of popular one of them.
👇👇
a) Bitcoin (BTC) is a first market cryptocurrency and worldwide payment system. It is the first decentralized digital asset, as the system works without a central bank or single administrator.
b) Ethereum (ETH) is designed to help companies deploy applications on the distributed blockchain.
c) Ripple (XRP) is a digital asset targeted to allow financial institutions to make global payments more easily and more cheaply.
d) Litecoin (LTC) was released in 2012 as a ‘lite’ version of Bitcoin, built using much of the original Bitcoin code base.
e) Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online. Think of it as "the internet asset."
f) DasCoin is a next Big Crypto Currency in 2017, DasCoin, a hybrid cryptocurrency designed to deliver an ideal blend of security, convenience and NetLeader's will Help you to Buy DasCoin and All you need is a NetLeaders software license, and you can start to be rewarded in cryptocurrency – directly from the source.
g) Electroneum (ETN)is a cryptocurrency built on its own bitcoin-derived blockchain. The cryptocurrency claims to be “the world's first common cryptocurrency.”
h) AbjCoin, Plexcoin, etc.. You can go and check all market based cryptocurrecy on www.coinmarketcap.com
Note: Market based cryptocurrecy follow demand and supply which means it depend on market force that make the coin price increase and decrease and that means it fluctuated by market force.
1.List of user based cryptocurrecy in the world.
a) The Billion Coin (TBC) is first based abundance cryptocurrecy in the world and it was launched in March 21st 2016 with the mission to end poverty globally and is distributing free gift coin that start giving it away to people, so that they can get coin with them if they didn't have money to invest in it, because 1TBC is worth €946,563. And 1TBC is going to 1billion Euro when will reach 1billion members and we are 2.2millions members now.
1billion members + 1billion Euro=1TBC.
The price of TBC increase everyday with 1% to 5%.
A lot of people have became millionaires in TBC.
TBC is creating is own private economy that will fill of million of people to become TBC billionaires and billions of people to become TBC millionaires.
If you want to know more about TBC follow the TBC blog post the link below.
www.blog.thebillioncoin.info visit the site and educate yourself about TBC mission to end poverty globally.
User based cryptocurrecy coin price only increase without decreasing, because is a membership agreement that the price will keep increasing without decreasing and is a private community that came together to add value for the coin.
Note: Both market based cryptocurrecy and user based cryptocurrecy are different from each others, because their vision and mission is different from each others and is all cryptocurrecy that have their own roadmap to succeed the project, so do your own research on any coin company before you invest in them.
