Author Topic: What is Cryptocurrency?  (Read 70 times)

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What is Cryptocurrency?
« on: August 26, 2016, 05:56:43 PM »
A cryptocurrency (also called as cryptocoin or simply coin) can be simply defined as a digital currency being produced by computer programs. It makes use of blockchain technology that acts as a public ledger meaning the funds are easily seen on the Internet but is anonymous as to who own them. Each one will have designated address(es) and that will be used as an identifier as to where the fund is and that address resides in a wallet. A wallet refers to your virtual storage of cryptocurrency. So it is easier to say that if you own a cryptocurrency, you will have a wallet and an address or addresses. The blockchain that serves as a public ledger will contain all the information of a certain address like the balance of the address and all the transactions to and from that address. The blockchain is secured so the address on your funds cannot be stolen from the outside and no one can just create or print new funds or coins without following the rules set when the currency is being created which is being maintained by the blockchain that each user has.

Charliekix

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Re: What is Cryptocurrency?
« Reply #1 on: April 19, 2017, 03:24:35 AM »
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Charliekix

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Re: What is Cryptocurrency?
« Reply #2 on: April 24, 2017, 10:06:54 AM »
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The Galaxy Nexus will launch in November in the U
The Galaxy Nexus will launch in November in the U