What is Cryptocurrency?
Cryptocurrency is a kind of currency. It is a digital version of currency. We know about dollars. It means that is a currency of the USA. If you go to any shop in the US you need a dollar to buy something. It is paper but it has value. Now we live in the virtual world. Most of the person have smartphones. Most people are using Social Media or other Internet Web. So they get different product and different countries product. They can order which products they like. If they like any product, Now need to pay to buy that product. How to buy that product, Because they don't pay by face to face. While that product from a different country, So Doller isn't their currency. How to buy that product? So technology experts are finding out a great way. They launch a new and digital currency. This currency is not touched by hand. So it will show the only electronic device like your mobile, computer, etc. They called it's by Cryptocurrency. It is portable. Easily anyone can transfer one account to another account. So there is no problem to buy products from a different country. Every place its value is the same. Where general currency price has a different price in a different country but Cryptocurrency price are fixed. For this reason, it is more popular than the general currency.
How to generate Cryptocurrency?
Generally, currency makes by govt bank. Mean If government bank wants to make money only it will possible. There is also some problem with our general currency. I don't want to tell it Now. There is some problem.
But Cryptocurrency can generate everyone. It's called Mining.
What is mining? Is it mean digging? Like gold mining diamond mining etc?
No, It is not gold or diamond mining. Mining is a system where software solves a mathematical problem. There is also the word "Difficulty level".
What are the differences between general transaction and Cryptocurrency transaction?
Yeah, it is the main fact of discovering Cryptocurrency. Generally, We transaction money by the bank that means the bank knows how much money you send others also know who will get that money. Mean there is no security. But if you transaction Cryptocurrency there is no thread person. So only you and he knows about your money. So it is more secure than General Cryptocurrency.
I have some ideas for developing cryptocurrency. No more today.