Cryptocurrencies
The total cryptocurrency market size peaked above USD 2 Trillion in 2021. Cryptocurrency, as the name suggests is a form of currency that uses encryption and is native to the digital internet. The currency is fully digital, there is no physical bills or coins, and, it can be stored both
Bitcoin
Blockchain networks predominantly use 2 popular algorithms to maintain and update the blockchain ledger. The proof of work algorithm is a mechanism that is used to maintain trust between the nodes and to eliminate the risk of double spend. Whenever a bitcoin transaction occurs, it is the responsibility of all
Exchanges
One way to acquire cryptocurrencies is to buy them in exchange for regular fiat money through an online crypto exchange, similar to buying stocks from an exchange.
Cryptocurrencies
Airdrop Airdrop refers to a free drop of tokens directly to users’ individual wallets. This is a great opportunity to get free tokens from new projects. It is a marketing technique that new projects will use to get their initial users. Users will typically be required to register and follow
Bitcoin
Bitcoin has been dubbed digital gold since there are only a fixed number of 21 Million bitcoins, making it a scarce asset. Another similarity that bitcoin shares with gold is that new coins have to be mined from the digital blockchain network. There exists a fixed total of 21 Million
Bitcoin
Currencies are issued by sovereign governments and controlled by the central banks of the respective governments. Central banks develop and adopt monetary policy to regulate the supply of currency so as to maintain the overall economic standards of the respective countries. One of the key functions of a central bank
Bitcoin
As the name suggests, the bitcoin blockchain is a collection of blocks that are linked together to form a chain. New blocks are added to the chain by the bitcoin miners. They record new transactions in the blocks and are paid a reward in return for the work performed. The
Cryptocurrencies
Currency is money that is typically issued by governments in the form of bills and coins. The bills and coins by themselves do not hold any value, however, the respective government’s promise to pay gives the currency its value. In 2021, the total cryptocurrency market cap is over $1.
Bitcoin
If you look around, all the entities and organizations like schools, banks, companies and governments can be thought of as centrally managed networks. In such networks, a centralized powerhouse controls all the activities within the network. Web 2.0 and Centralization The internet started out as a decentralized network of