Crypto Currency
WHAT IS BLOCKCHAIN?
Ans:_ A blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without a need for a central clearing authority. Potential
applications can include fund transfers, settling trades, voting, and many other issues.
WHAT ARE CRYPTOCURRENCIES?
Ans :_ Cryptocurrency is decentralized digital money, supported blockchain technology
You can use crypto to shop for regular goods and services, although many of us invest in cryptocurrencies as they might in other assets, like stocks or precious metals.
The prevailing issue is trust. If someone creates a new currency called the X dollar, how can we trust that they won't give themselves a million X dollars, or steal your X dollars for themselves?
WHAT ARE CRYPTOCURRENCIES?
You can use crypto to shop for regular goods and services, although many of us invest in cryptocurrencies as they might in other assets, like stocks or precious metals.
WHY IS THERE SO MUCH HYPE AROUND BLOCKCHAIN TECHNOLOGY?
Ans :_ There have been many attempts to create digital money in the past, but they have always failed.
The prevailing issue is trust. If someone creates a new currency called the X dollar, how can we trust that they won't give themselves a million X dollars, or steal your X dollars for themselves?
Most normal databases, such as an SQL database, have someone in charge who can change the entries (e.g. giving themselves a million X dollars). Blockchain is different because nobody is in charge; it’s run by the people who use it. What’s more, bitcoins can’t be faked, hacked or double spent – so people that own this money can trust that it has some value.
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