CRYPTOCURRENCY
Cryptocurrency is a digital form of currency that uses cryptography to secure the processes involved in generating units, conducting transactions and verifying the exchange of currency ownership.
Most modern currency is often referred to as "fiat" currency, which is regulated and produced by a government entity. The U.S dollar, for example, is a fiat currency. In contrast, cryptocurrency is not issued by any government authority. It is typically not directly managed by a single authority but rather works in a distributed consensus approach.
Cryptocurrency gains its name from the combination of "cryptography" and "currency." At the heart of all cryptocurrencies is a cryptographic algorithm with complicated encryption. Cryptocurrency is created by solving a piece of a cryptographic hashing algorithm in a long chain. It is not a physical unit, like a coin or a dollar bill, but rather a mathematical computation. Cryptocurrency assets are often stored in a digital wallet that keeps track of the cryptocurrency.
A decentralized, distributed ledger monitors all cryptocurrency transactions around the world. In the case of the popular cryptocurrency Bitcoin, the distributed ledger is what is known as a blockchain, which is a digital system that keeps track of cryptographic hash blocks.
क्रिप्टोक्यूरेंसी मुद्रा का एक डिजिटल रूप है जो क्रिप्टोग्राफी का उपयोग इकाइयों को बनाने, लेनदेन करने और मुद्रा स्वामित्व के आदान-प्रदान को सत्यापित करने में शामिल प्रक्रियाओं को सुरक्षित करने के लिए करता है।
अधिकांश आधुनिक मुद्रा को अक्सर "फिएट" मुद्रा के रूप में संदर्भित किया जाता है, जिसे एक सरकारी संस्था द्वारा विनियमित और निर्मित किया जाता है। उदाहरण के लिए, अमेरिकी डॉलर एक फिएट मुद्रा है। इसके विपरीत, क्रिप्टोकुरेंसी किसी भी सरकारी प्राधिकरण द्वारा जारी नहीं की जाती है। यह आम तौर पर एक प्राधिकरण द्वारा सीधे प्रबंधित नहीं किया जाता है, बल्कि एक वितरित आम सहमति दृष्टिकोण में काम करता है।
क्रिप्टोक्यूरेंसी का नाम "क्रिप्टोग्राफी" और "मुद्रा" के संयोजन से प्राप्त होता है। सभी क्रिप्टोकरेंसी के केंद्र में जटिल एन्क्रिप्शन के साथ एक क्रिप्टोग्राफ़िक एल्गोरिथम है। क्रिप्टोक्यूरेंसी एक लंबी श्रृंखला में क्रिप्टोग्राफ़िक हैशिंग एल्गोरिदम के एक टुकड़े को हल करके बनाई गई है। यह एक भौतिक इकाई नहीं है, जैसे कि एक सिक्का या एक डॉलर का बिल, बल्कि एक गणितीय गणना है। क्रिप्टोक्यूरेंसी परिसंपत्तियों को अक्सर एक डिजिटल वॉलेट में संग्रहीत किया जाता है जो क्रिप्टोक्यूरेंसी का ट्रैक रखता है।
एक विकेन्द्रीकृत, वितरित खाता-बही दुनिया भर में सभी क्रिप्टोक्यूरेंसी लेनदेन की निगरानी करता है। लोकप्रिय क्रिप्टोक्यूरेंसी बिटकॉइन के मामले में, वितरित खाता बही को ब्लॉकचेन के रूप में जाना जाता है, जो एक डिजिटल सिस्टम है जो क्रिप्टोग्राफिक हैश ब्लॉक का ट्रैक रखता है।_________________________________________________
Types of CRYPTOCURRENCY
There are many different types of cryptocurrency, much in the same way that there are many different fiat currencies issued by global governments. While Bitcoin is arguably the best known, many other cryptocurrencies have emerged over the years. These include the internet-popular Dogecoin and Ethereum. The following is a breakdown of popular cryptocurrencies:
Bitcoin
Bitcoin is a general-purpose cryptocurrency and is a main pioneer in the industry. It operates using blockchain, which allows Bitcoin to digitally exchange anonymous, heavily encrypted hash codes across a peer-to-peer network. It was created by Satoshi Nakamoto, whose real name has never been revealed.
Code: BTC, XBT
First released: 2009
Created by: Satoshi Nakamoto
Estimated market capitalization: $883 billion USD
Average price: $47,000 USD per bitcoin
Dogecoin
Dogecoin, often referred to simply as Doge, was created as a parody based on the Doge internet meme. It was a near worthless currency until Tesla CEO Elon Musk and investor Mark Cuban began popularizing it in 2021
Code: DO
First released: 20
Created by: Jackson Palmer and Billy Mark
Estimated market capitalization: $32 billion U
Average price: $0.25 USD per coinSDus13GE.
Ethereum
Ethereum emerged in recent years to be a primary cryptocurrency competitor to Bitcoin. It introduced a number of capabilities that were not present in Bitcoin, using an open source, distributed blockchain and smart contracts via Ethereum's Solidity programming language. The cryptocurrency created by Ethereum is called Ether.
Code: ETH
First released: 2015
Created by: Vitalik Buterin and Gavin Wood
Estimated market capitalization: $396 billion USD
Average price: $3,400 USD per Ether
_________________________________________________
How do you get CRYPTOCURRENCY?
Most cryptocurrencies are created via a process commonly referred to as cryptomining. With cryptomining, high-powered GPU systems are used to decrypt the cryptographic hash to create a new block. Each type of cryptocurrency has a finite number of blocks that can be mined. Over time, it becomes increasingly more complex and difficult to mine coins from an established cryptocurrency. For example, in 2010, a regular user with a GPU-powered system might have been able to mine Bitcoin. However, computing requirements are significantly more complex today, making cryptomining increasingly complicated.
In the early days of some cryptocurrencies, the currency's creators often simply give away coins to help promote usage. For example, Dogecoin was well known for providing users with free coins prior to 2020, via what was known as a Doge Faucet.
A popular way to help bring interest and value to a new cryptocurrency is with an Initial Coin Offering (ICO). With an ICO, the group launching a cryptocurrency offers potential investors a given amount of the new cryptocurrency in exchange for a fixed rate of either fiat currency or another cryptocurrency, typically Bitcoin or Ethereum.
Currently, the most common way of acquiring cryptocurrency is via a cryptoexchange. At a cryptoexchange, users buy a given cryptocurrency either with a fiat currency, such as the US dollar, or with another cryptocurrency. For example, a user could buy Dogecoin with Bitcoin and vice versa. Cryptocurrency exchanges are also where individuals convert a given type of cryptocurrency into cash or a fiat currency.