What Is Cryptocurrency And Smart Contract

A crypto currency (or digital currency)is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.

Examples of crypto currencies are

▪️Bitcoin (BTC)

▪️Ethereum (ETH)

▪️Ripple (XRP)

▪️Litecoin (LTC)

▪️Tron (TRX)

and a host of others.👇🏽

Now Crypto currencies have been increasing rapidly overtime and countries have been coming to terms the worth of crypto and investment making it a legal tender. A lot of investor have started putting their investment into digital asset in order to make substantial amount of profits after its appreciation...For majority of us here it will be hard for us to buy a unit of most of this asset. Hence the need for smart contract came about to help prospecting members and investors accumulate these digital asset

WHAT IS A SMART CONTRACT?

Smart contracts are scripts (computer codes) written in programming languages. It is a visible code and cannot be changed because exists over BLOCKCHAIN technology.A smart Contract is a decentralized wallet system built inside of blockchain technology itself. what it means is that a smart Contract will continue to exist as long as block chain exists. Decentralized means that...It is a 100% transparent Once a smart Contract is launched the admin has no control over it that means it cannot crash and your account cannot be hacked so it comes with absolutely no risk. All payments in a Smart Contract are instant that means our money goes to our wallets (equivalent of bank account) Instantly it doesn't require withdrawals as payments are Instant