What is digital currency and cryptocurrency

Hello, friends In this article we will talk about what is digital currency and cryptocurrency. Digital currency and cryptocurrency also know as an e-currency. It is visible only on the computer, We can not see it as paper and keep in the pocket. that's why we called it digital currency or virtual cryptocurrency. In Today's world, digital payments are being encouraged by everyone and became the most valuable currency in today's time.

What is actually Cryptocurrency

So let's know about cryptocurrency, it's a digital asset that uses cryptography. Cryptocurrency is usually used to buy some goods and services. It can be used with the help of the Internet and there is no need to visit any bank or other government institution for its use.

Types of Cryptography

More then 900 cryptocurrency is present at the current time, but there are some of them that are very much used and significant cryptocurrency. It is being described here.

• Litecine: It's invented year in 2011. It also works with the help of the decentralized technique. This helps Bitcoin to be faster.
• Ether and Etharam: It is used as an interchange currency. Ether contains a kind of token. It is used for transactions under Etharam blockchain.
• Dash: The dash cryptocurrency was invented in the year 2014. It was initially known as the Dark coin. This works with the help of a network called 'Masternode'. This network is faster and more effective than Bitcoin.
• Jade Cash: Its invented year in October 2016. It's a new kind of cryptocurrency in this area. All information is encrypted while using it, but it cannot be used for ' double spend '.
• Monero: It is also a special kind of cryptocurrency. It's used special kind of support, called a ring signature. This is very high in the dark web.

What is Bitcoin

The Bitcoin cryptocurrency is the first global decentralized currency created for the digital world. Bitcoin can be used anytime and anywhere. This allows one person to send money to another person anywhere without the help of a third party and any bank. That means you can send money from your Bitcoin wallet to another person's Bitcoin wallet. It is constructed and regulated with the assistance of electronic systems. This is a very fast way of dealing with money. It is just a process between two people, so no third person is required. Its transactions come in your Bitcoin wallet in the form of money codes. This is not a printed digital currency.

How Bitcoin Was Started

It was released by Satoshi Nakamoto for the first time as open source in the year January 2009 and he is the programmer. Nobody knows about his. Different people in different places are claiming to themselves Nakamoto Satoshi, but until today, the real programmer has not revealed. In today's times, many such type programmers are making it safer and stronger. The basic objective was to release money from one place to another without the help of a third party or a central authority. In 2010, for the first time, a pizza was offered of 10 thousand bitcoin. At that time 1 Bitcoin was priced at 10 cents or less, but today its price has increased by a thousand times. The price is constantly increasing because it is bought by more and more people.

How Does Bitcoin Work

It is exchanged by peer to peer technology. which mean the money is accessed directly from one computer to another and it is sent as a blockchain. As the bank keeps the account of your money like that blockchain keeps the account for each bitcoin.  This technology makes safer by thousands of people who monitor this transaction with the help of powerful computers. and check it out. This is called Bitcoin mining.

What is Bitcoin Wallet

This is one type of software program that is stored Bitcoin store. A bitcoin has its own private number code, which is preserved in the Bitcoin wallet. With this, we can take bitcoin very comfortably or give it to anyone. It's the same as mobile wallet work.