Blockchain Relations With Cryptocurrency

Date : 13 March, 2022

Article No # 22

Greetings Readers!!!!

How are doing wonderful people? How's your Sunday going on??? Are you making fun on your off day or planned some over time working????

As you are saying me from many days. I have just fee assignments for the whole day that is study and engage with you people more and more. Here I share my today's blog about Blockchain and Cryptocurrency relations.

I hope you will enjoy the reading!!

Blockchain is getting very popular now-a-days. Blockchain basically is chain of blocks that exchange information. The concept of Blockchain can be traced back in 1991 by Digital Timestamp. It remains unused for long but it was adopted by "Satoshi Nakamoto" in 2009 to creat digital crypto currency Bitcoin.

Blockchain are distributed in ledgers that is completely open to anyone. They have interesting properties. One they record data it becomes difficult to change it. Block contains data, hash, and hash of previous block.

The data store in the Bitcoin Block is the user id of the sender of the amount and the user of the receive. It also save the save the amount transacted between the parties. Hash can be described as the finger prints or the way of the exact identify the exact block in the chan. It is unique for the blocks. When the changes are made in the block, hash remains changing.

Hash of previous block secure the transaction among the blocks. It is considered very important part of the Blockchain. It connects the different block into a chain.

Blockchain is Peer to Peer network that means everyone may join it whenever he wants. It is decentralized system. It is not governed by any systemise authority.

Crypto currency that is working with the association of the decentralized Blockchain system is making revolution in comforting life. We can make easy and fast transaction by cryptocurrency. We also escaped from paying extra taxes. Let's understand with an example:

Jack, Ling Ling, Honey and Cat went for shopping in a Mall. Cat pay all the charges of the shopping. Jack, Ling Ling and Honey decided to sent the expenses of the shopping to Cat. Jack send money to Cat online successfully. While Ling Ling, and Honey transaction got failed, because of technical issues with their bank account. Their account may be hacked. It's under the control of the state authorities and doesn't have completed protected system.

While Cryptocurrency is protected , decentralized system. It doesn't impose any tax over its users. Now, thousands of the types of cryptocurrency are available in the market. Bitcoin, Ethereum, Litecoin, Dogecoin BCH are some major of them. We can choose our favorite cryptocurrency for the transaction and trading purpose.

Top five investors of the cryptocurrency are

• Barry Silbert.

• Micheal Saylor.

• Tyler and Cameron Winklevoss.

• Elon Musk.

• Michael Novogratz.

They are successful people of the world and know that cryptocurrency having great future ahead. So they are giving a message to the people to indulge in crypto.

The all above information is gathered by reading crypto article and YouTube channel link below 👇

There is nothing impossible in life. We can do what we desire and for what we struggle. Few days back Cryptocurrency is just new thing for me, but as I have share with you in my previous article that I am fond of learning new things and cryptocurrency is one of the most attracting. Here I have share some facts that I learn about Blockchain and cryptocurrency. To error is human if I committed any mistake you may correct it in the comments section.

Thank you 💕☺️

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