Cryptocurrency

What is Cryptocurrency

Cryptocurrency is an end to end encrypted by the concept named "cryptography". It is a digital asset developed to work as a medium of exchange. Cryptocurrency is a subset of digital currencies. Unlike paper currency, the cryptocurrency is not moderated by any organization or the government. 

The paper currency is centralized and has a single point of failure. Counterpart of this is cryptocurrency which is decentralized and hence making it next to impossible to crack. This decentralized nature of it as a base makes it volatile enough to welcome newer and stronger cryptocurrencies. 

The best & first ever cryptocurrency was bitcoin. Bitcoin was introduced by an anonymous programmer named Satoshi Nakamoto. Bitcoin, since inception in 2009 did not see a huge user base. A single bitcoin was a few cents and today (13/10/17) it has crossed over $5800 today. The current market of Bitcoin is $96.7 bn, which is higher than Goldman Sachs and Nike. Apart from this, there are so many upcoming cryptocurrencies. Like Ethereum is the second most valued cryptocurrency in the industry. 

Take a look at the cryptocurrencies and their market ranks. 

cryptocurrency

 

The current market value of Bitcoin

 

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