Cryptocurrency

  

                                          Cryptocurrency

                 Cryptocurrency-Digital money appealing to many investors

What is cryptocurrency

Cryptocurrency has become popular in last decade. Cryptocurrency is a kind of digital currency. Cryptocurrency is electronic only and does not have a physical form.

Cryptocurrency ensures secure online payments. It works on peer to peer network of computers across the world. There is no regulatory body, government controlling these Cryptocurrency.

Just as stock market investors buy securities as they believe the company will grow and share price will increase, same happens with crypto investors when they buy a cryptocurrencies.

 

Why are cryptocurrency so popular?

People sees it as the currency of future and are buying them.

Technology behind cryptocurrency, decentralized process and recording system make the system more secure.

How it works?

Cryptocurrency runs on blockchain technology. Blockchain is digital ledger of transactions. This database (ledger) is distributed across a network of computer systems. Decentralized network of computers keeps a blockchain running & authenticates the transactions as no single system controls the ledger.

A chain of blocks is created on the network with the help of blockchain technology. As and when the transaction happen a block is created. Block contain the transaction details

Are crypto a good investment?

Many investors see them as mere speculation. It generate no cash flow as real currencies do.

Currency needs stability so that a fair price can be determined by the consumers.

Price volatility creates a problem.

 

What are the largest cryptocurrencies?

Multiply, how many coins are in existence and the price of those coins. It gives you the size of cryptocurrency and its market capitalization.

Top cryptocurrencies and their approximate market cap as of June 30:

1.     Bitcoin –                   $653 billion

2.     Ethereum –               $263 billion

3.     Tether –                     $62 billion

4.     Binance Coin –        $46 billion

5.     Cardano –                  $44 billion

6.     Dogecoin –                $33 billion

7.     XRP –                          $32 billion

8.     USD Coin –                $25 billion

9.     Polkadot –                 $15 billion

10.Uniswap –                 $11 billion

 

 In this blog we discussed about "Cryptocurrency"