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According to Wikipedia;
'A cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Some crypto schemes use validators to maintain the cryptocurrency. In a proof-of-stake model, owners put up their tokens as collateral. In return, they get authority over the token in proportion to the amount they stake. Generally, these token stakers get additional ownership in the token over time via network fees, newly minted tokens or other such reward mechanisms. Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC).
When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database'
In some couples of years ago who with had thought that a group of different communities around the world, can chose to support one another with a common goal to be able to determine the value of the coins in their wallet.
Cryptosystem is here to stay and many big wings and country across the globe will sooner than later willingly or be forced to change their view and approach to it.
What dose crypto really means to me?
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It simply means with just my phone and internet if I work hard and smart, I don't have to worry about the current high inflation of my country fiat money.
And why do we need crypto?
It is glaring enough that our governments economic and financial policies are no long favouring the masses, that is if it has ever was, by taking a look at the inflation rates across the globe, and cryptosystem is here to solve that problem by giving a community of group of people the power to determine the value of their crypto wallets.
My thoughts on the future of cryptocurrency;
I see a great future and potentials in cryptosystem, even thought there might be challenges of price fluctuations and Government regulations, but is here to stay for a very long time with a promising future.
This is my entry post for support hashtag by @clixmoney,I invite you to join me and lets support this week #tag #cryptocurrency Here
Like @vlemon say in Bitcoins Pandora box had been open a while ago
Link
"It always impresses me how humans are able to readapt their narratives. It seems now normal that a country would use Bitcoin as legal tender currency. Why not? would anyone say."