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What Is Crypto Currency? Basically, crypto currencies are entries in decentralized consensus-databases. Crypto currencies are created through using encryption techniques. Taking away all the noise, just consider crypto currencies as entries in a database that can’t be changed without satisfying certain conditions. Crypto currency is a mode of exchange, generated and stored automatically in a block chain through cryptography to manage the formation of financial units and to confirm the transfer of money. Bit coin is one of the popular crypto currencies of today.
Properties Of Crypto currency • Irreversible • No identification • Instant global access • Secure • Use at your will Properties Of Crypto currency That You Need To Know
Properties Of Crypto currency Irreversibl e
No identificati on
Secure
Once the transaction is confirmed, it can‘t be undone, by any means. It is done forever; no matter if you send money to a trickster or it is robbed from your computer. There is no reversing whatsoever.
There is no connection between the transactions and real world identities. Bitcoins is an address of around 30 characters. While you can look at the transaction flow, it is impossible to relate the real world character of the user to that address.
There is no connection between the transactions and real world identities. Bitcoins is an address of around 30 characters. While you can look at the transaction flow, it is impossible to relate the real world character of the user to that address.
Use at your will
Instant global access
Since there is no central authority, you can use cryptocurrency at your will. Just download and install the software and you can send and receive cryptocurrencies. No permission needed.
The transaction is instantly propagated and confirmed in the network. Since a global network of computers is involved, you can send bitcoin to your next door neighbor or to a distant user. Geographic locations don’t matter.
New Era Of Economy With Crypto currencies Crypto currencies can be considered as digital gold. Secure money that increases its worth in time. Crypto currencies are fast becoming a comfortable mode of payment worldwide. While Bitcoin is certainly the most popular crypto currency, we introduce you to the other crypto currencies famous today: Bitcoin
GDC
Famous Crypto Currencies
Monero
Ethereu m
Litecoin
Bitcoin This is world’s first crypto currency that is seen as the digital gold benchmark in the crypto currency arena. Bitcoin is used as a means of payment globally. It is valued at around 650 Dollar with its transaction volume touching 200.000 daily.
Ethereu m It takes the second spot in the ranking order of cryptocurrencies. Ethereum can process transactions, as well as, complex programs and contracts. There are several replicas of ethereum so it is a collection of cryptocurrencies, and not a single currency.
Litecoin Litecoin is labelled as the digital silver or the younger brother of Bitcoin. With a fresh mining algorithm and with a greater amount of token, Litecoin was a real invention. However, it couldn’t find a real deal and slipped down in the ranking order. Nevertheless, it is still actively used and stored as a backup (to Bitcoin).
Monero
Monero is based on the cryptonite algorithm that was invented to enhance the privacy that Bitcoin doesn’t offer. Every bitcoin transaction is documented and can be followed. With the introduction of the cryptonite algorithm, it became possible to cut through that path.
GDC Coin GDC coins forays into the world of the digital economy to help people move to a globally accepted payment or exchange mode through crypto currency. Secured by an infallible system, crypto currency is founded on the block chain scheme that renders it impenetrable for hackers.
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