The keywords that people search a lot these days are cryptocurrency and blockchain. Today, I will explain what they are.

 

BitCoin

As Bitcoin is known to people, blockchain technology is gaining popularity. Today, I will explain what blockchain, bitcoin, and cryptocurrency are.

 

BlockChain

What is blockchain?

Blockchain technology is data distribution processing technology. This refers to the distribution and storage of data from all transactions by all participating users in the network. For example, if A remit 100$ to B, the bank will play an intermediary role in the current financial system. Because it is to prove the transaction between A and B. However, if blockchain technology is applied, it will be slightly different. In the past, if the bank recorded all the contents, after blockchain technology was applied, several people divided and saved the contents. All the same network users save and record the same content. It is to record and share the transaction between A and B throughout the same network user.

 

The characteristic of blockchain technology is that it distributes and stores data. Because you don't have data in one place like the traditional method, it's much easier and safer to protect your data. Considering the traditional way, when a bank's server was attacked, the blockchain technology is a much more advanced technology, considering that the system had no choice but to hand over the data to others. It is thanks to blockchain technology that virtual currencies such as Bitcoin, or cryptocurrencies, were born.


Cryptocurrency


The Birth of Cryptocurrency

The birth of cryptocurrency began in 2008, when the global economy once stagnated. At that time, the financial environment reached the limit of the existing banking system, such as very complicated financial products and indiscriminate A-grade credit approval. At that time, the government and banks chose the "quantitative easing" method of generating more money. Quantitative easing could have helped overcome the crisis, but it could lead to an increase in the total amount of money worldwide, which could lead to a decrease in the value of money. Because of this, it was not a perfect solution. Considering the limitations of the existing financial environment, "cryptocurrency" was created to compensate for internal shortcomings.

 

While someone with special authority controlled the data in keeping the existing currency, cryptocurrency was able to preserve the currency by encrypting it so that everyone could access the data and not modify the data. However, the sudden emergence of cryptocurrencies had to have the characteristics of money to trade in the market. If money doesn't have the function of money, the value of existence will disappear.

 

To find out the function as currency, there are payment functions, savings functions, measures of price and exchange. Fortunately, cryptocurrency has all four of these functions. It can be used as an exchange because it has a payment function that allows you to pay the price and it can be stored on the exchange, and it can be distributed to very low units, which can be used as an exchange because it can be exchanged with many people 안전카지노사이트.

Complementary functions


Complementary functions of cryptocurrency

People often use the expression "mining bitcoin." It's not a mineral, it's not a mineral, it's not a gold dig. How do we do this? The answer to this is closely related to "encryption." The first person who succeeds in encrypting the cryptocurrency will be given ownership of the currency. If cryptocurrency is mined in this way, the cryptography of cryptocurrencies that will be mined in the future will be much harder and harder, and the amount of mining will be further reduced, and the price will naturally rise as the supply will be reduced.

 

Virtual currency is known to us by many names. Bitcoin, Ethereum, Ripple, and Light Coin exist under many names, and the reason why the names are different can vary depending on the mining method, the proof of value, and the transaction method. Most of them are known to vary a lot due to differences in transaction methods. For example, Bitcoin needs a confirmation time of 10 minutes when trading. Assuming that you pay in bitcoin currency, you have to wait 10 minutes and take the inconvenience of having to pay. This is why there are so many currencies because depending on the situation, cryptocurrency that fits the transaction method is inevitable.

a wise investment


Conclusion

It is true that credit cards or cash are familiar currency that is still used to us every day. But it is also clear that we have to adapt to what is changing in the future. No one knows when and at what point cryptocurrency will be used in our daily lives, but I think we should be aware of that. Cryptocurrency is now recognized and used as a kind of investment rather than as a kind of currency. I hope you always make a proper and healthy investment with your own investment beliefs. Today's issue is about cryptocurrency and Bitcoin blockchain technology. I'll introduce more interesting subjects to you.

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