What is CryptoCurrency?

Described in the simplest way CryptoCurrency are digital assets stored on computer databases around the world. A Cryptocurrency is an online version of money, a digital asset to be precise. The name is derived from the Cryptography, which is used to encrypt transactions and control the production of the currency. It is a strictly monitored process, as it uses the Blockchain Technology.

Blockchain?

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
 Don & alex tapscott

Simply- a blockchain is a huge file of information containing the complete history of every transaction of a coin ever made.

Consider a special google spreadsheet which is shared by every computer in the world and is connected to the internet. Every time a transaction happens, it gets recorded onto a row of this spreadsheet.

Anyone with a mobile device or computer can connect via the internet and can access the spreadsheet. Anyone can view and add a transaction to this spreadsheet, but the spreadsheet doesn’t allow anyone to edit the information which is already there.

This is basically a blockchain.

Digital Wallet

You store physical money in your physical wallet, you store digital money in your digital wallet- software either installed on your computer or on a secure server, which allows you to interact with digital coins and store them at a digital address.

Private Key

Every digital address has a unique private key that has the power to open its corresponding wallet without the need of a password. So, when you set up your own digital wallet you are given your own private key, you should make a point of storing it safely and never, ever sharing it with anyone.

Altcoins

To some people everything but is an alt coin and I feel the same as came first, before any other coins. what makes a coin an alt coin is based on the opinion of whomever you ask.

More Terms

A few more terms you should know

An initial coin offering is a means of crowdfunding using cryptocurrency, where a startup company will release a digital currency for investors to purchase (often in the hope it’s going to be the ‘next big thing’).

Shorthand for a Decentralized Application, a Dapp is a piece of software with a standard UI (user interface) but utilizing a decentralized back-end, meaning it doesn’t run on your computer, instead typically making use of a blockchain and smart contracts.

Smart contracts help people exchange money, property, shares- pretty much anything of value- in a transparent, conflict-free way. Both parties can see the code of the contract, and thus the outcome. Smart contracts also avoid the services of a middleman- for instance, when sending money to a friend, banks are the middlemen, taking their cut every step of the way.

How to start investing (India)

The trend of  in India is increasing day by day and alot of you want to invest in it. Here is a simple guide on how to start investing in  from India!
Read the detailed post linked below and start your cryptojourney now

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