What is Cryptocurreny & how its working
What is Cryptocurrency
Cryptocurrency is a decentralized platefoam where we convert our money into assest we also call it digital asset, & it is Platefoam where we exchange currency to other currency & it is also using to store money.
Cryptocurrency was Launched in 2009 and the first cryptocurrency of name was Bitcoin it was created by satoshi nakamoto this was created for money transfer it is called electronic cash system which working Peer-to-peer connectivity.
How its working
Bitcoin here people investing money to increase that invest money, its increasing because there so many investor’s invest own money for convert money into asset, it is depend on market its different market to share market but work is same, we invest money to buying share’s & here we invest money to buying Bitcoin, but it is not handle by human it is handle by “Quantum computer” bitcoin using SHA-256 hashing algirothms this algirothms verified signature of public key to transection money it takes 10 minutes in each transection because its solve’s million of value for each transection that’s why its hard mining currency. everything depend on “quantum computer” its working based on blockchain & Node.
Transactions & Legality
A transfer of funds between two digital wallets is called a transaction. That transaction gets submitted to a public ledger and awaits confirmation. When a transaction is made, wallets use an encrypted electronic signature (an encrypted piece of data called a cryptographic signature) to provide a mathematical proof that the transaction is coming from the owner of the wallet. The confirmation process takes a bit of time (ten minutes for bitcoin) while “miners” mine (ie. confirm transactions and add them to the public ledger).
it is not legal in every country but it is legal in almost country, here is Bitcoin banned & 1000+ cryptocurrency is avaliable everyone is not illegal or legal.
Righnow in 2017 1000+ cryptocurrency is avalible
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