CryptoCurrency

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Cryptocurrency: Navigating the Future of Finance (moderntech-tips.blogspot.com)

submitted 1 month ago* (last edited 1 month ago) by amir17 to c/cryptocurrency

2 comments fedilink hide all child comments

Whether you're tracking Bitcoin's skyrocketing value or diving into Ethereum's smart contracts, understanding cryptocurrency is becoming a big deal.

What is Cryptocurrency?

Let’s break it down. Cryptocurrency is basically digital money. It’s used to secure transactions and manage the creation of new coins. But here’s the twist: unlike the cash issued by governments, cryptocurrency operates on a decentralized network powered by blockchain technology.

Picture blockchain as a huge digital notebook that everyone in the network can see. This makes transactions transparent and trustworthy.

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[–] Eheran 1 points 1 month ago (1 children)

Cryptocurrency is digital money.

With money I can pay everyday items. With crypto I can not do that, simple transactions take time and/or cost a lot of money.

[–] [email protected] 1 points 1 month ago

@Eheran
Sure, BTC is not digital money. It is slow, expensive and has no privacy.

But there are other blockchains that are digital money, transactions are fast, they cost fractions of a cent and keep your privacy. That's what you need for a digital currency.

@amir17