Questions

What is a Cryptocurrency?
What is Cryptography and how does it make cryptocurrencies secure?

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What is a Cryptocurrency?

From the start of time man has consistently discovered a way to execute and trade cash starting with one individual then onto the next. In the early age we used to trade by barter, then, at that point, we were acquainted with strong money (cash). With taking a break man has tracked down another computerized cash that can't be seen or contacted and furthermore utilized as a method for trade. Indeed, I am discussing digital currency, Oxford Dictionary characterizes Cryptocurrency as;

a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.

What is Currency ?

Currency is a means of use by individuals to transact business.

Currency is a medium of exchange for goods and services. In short, it's money, in the form of paper or coins, usually issued by a government and generally accepted at its face value as a method of payment.-^Source

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Cryptographic money is a computerized cash where exchanges are completed starting with one end then onto the next through an advanced blockchain in a decentralized framework. Bitcoin was first delivered in 2009 as the main decentralized digital money after which we were acquainted with numerous other cryptographic forms of money. Digital currency is gotten by cryptography, which makes it hard to repeat or delivery counterfeit duplicates of a specific coin. A blockchain is a framework that gets exchanges of cryptographic money were you can securely purchase, exchange and sell digital currency.

A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.-^Investopedia

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Why do we need a blockchain ?

Blockchain assists with getting exchanges and helps in discernibility and following of exchanges. The first blockchain site (Blockchain.com) started as the main Bitcoin blockchain voyager on 30th of August 2011.

In blockchain information is the main phrasing, information is put away in a large number of hubs, when there is loss of information in one hub there are many reference hubs. There are many kinds of digital currency that are presently in presence, and a lot more are still to come.

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What is Cryptography and how does it make cryptocurrencies secure?
Cryptography is sharing messages that are scrambled between two individuals that are getting to the Blockchain. There are various targets utilizing cryptography; they permit exchanges to be discrete and stowed away/mysterious. Cryptography utilizes codes to send and get information, measure data in a protected arrangement. It is utilized to confirm creativity of the information, it very well may be contrasted with the genuine mark. It was proposed by Satoshi Nakamoto, he made the possibility of cryptography and posted the first on a cryptography message board in 2009. On second thought, bitcoin is only a typical code, how could anybody not have the option to change this code? He tackled this issue by shaping the private key encryption that was one of a kind for every client.

How does cryptography make cryptocurrency secure?

As previously mentioned there what stops somebody replicating a code like bitcoin or Ethereum. The private keys are special to every user, you may share your public keys but the private key is the key to all your funds in your wallet. All your assets are yours as long as you have your Private key. You are advised to use your keys on all platforms, whether online or on a hard copy. There are also other keys in the wallet that are important as well they include; memo key, public key and posting keys.

This method helps achieve the two important functions of authentication and encryption for cryptocurrency transactions. The former is achieved as the public key verifies the paired private key for the genuine sender of the message, while the latter is accomplished as only the paired private key holder can successfully decrypt the encrypted message.-^Source

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