Digital Currency Research is on a mission to inspire and educate in the areas of Blockchain Technology and Cryptocurrency.
We create blogs and videos about Blockchain technology and Cryptocurrency.
Our goal: is to provide concise information and news in the form of videos and articles. We also will be sharing our journey in crypto currency, sharing all our research and findings for us all to benefit together from Cryptocurrency and Blockchain technology.
Let’s start with a brief history of Cryptocurrency….
Back in 2008, with the world brought to its knees from a global financial crisis, many began to question the resilience of the traditional financial system and the banks that benefit from it.
That very same year Bitcoin was created, setting off a major philosophical revolution in global finance. Bitcoin eliminated the need for governments and banks to verify transactions.
This new decentralised form of currency took the world by storm, quickly growing in value as more and more people came on board. The Bitcoin boom created cryptocurrency billionaires, and led to thousands of new cryptocurrencies flooding on to the market.
Today, cryptocurrencies are collectively worth billions of dollars and are used to purchase an increasing number of goods and services. They also are a store of value, with many people keeping Bitcoin and other crypto currencies as long term investments.
Now we have taken a brief look at the history of cryptocurrencies, let's take a look at the technology that drives them, Blockchains!
Since cryptocurrency is not regulated by a single centralised financial institution, each cryptocurrency transaction is recorded on a distributed network of computers that run special software.
Each time a transaction is performed, the network tracks the sender’s public key (much like an account number), the receiver’s public key and the amount of currency transferred.
This information is then placed at the end of a public ledger, copies of which have been distributed over many computers within the network.
This growing list of records, called blocks, is what forms the blockchain. The blockchain is updated hundreds of times a day and is sent to all the computers that process the specific type of cryptocurrency.
I trust you managed to get a brief and straightforward overview of Cryptocurrency and Blockchain technology.
We will be taking more of a deeper look into Blockchain technology and Cryptocurrency in an upcoming video series. Be sure to subscribe to our channels on LBRY and YouTube to learn more about series.
Written By FM Crypto - Twitter: @fmcrypto247