What Is Cryptocurrency ? Why Cryptocurrency Are So Popular In The World
Cryptocurrency Has Spread All Over The World, Many People Are Familiar With It But Some People Can Understand Cryptocurrency.
What is Cryptocurrency
Cryptocurrency is a digital currency based on blockchain technology each Cryptocurrency Is Basically a Computer File This Computer File Are Stored In a Digital Wallet On Your Computer Or Mobile
- Idea Was to create an independent Digital Currency
- A widely accepted currency that can be used to buy or sell.
- It uses the cryptographic function for financial transactions.
- This is also working as a peer to peer digital payment system
What is a peer to peer digital payment system?
Peer to peer digital payment system means it allows people to make a payment directly to each other without any central authority.
Benefits of Cryptocurrency for payment
First, let’s talk about the payment system we are using in today’s world If we buy or sell something or transfer a money o someone usually we make payment through bank or credit card bank and the financial company charges fees and if you have to make international payment it takes a lot of time and it’s very expensive.
- There is less expensive to pay also, the international transfer is almost instant just you need an internet connection. But there is a risk, This is a Technology-Based Currency so Cyber attacks are possible.
Most Popular Cryptocurrency In The World
First Cryptocurrency In The world Bitcoin found in 2008 by a Programmer Or a group of programmers with the name of Satoshi Nakamoto and started in 2009. Recently bitcoin cross its highest price in December of 19,850.11 dollar
After bitcoin Ethereum is the most actively used Cryptocurrency in the world. Ethereum was found by vitalik buterin (Russian-Canadian programmer and writer) on 30 July 2015 at just the age of 21 years. in Dec 2020 Ethereum price around 594.68 dollars per 1 ethereum cryptocurrency.
Litcoin is the cheapest and the faster currency was founded by Charlie Lee (a computer scientist) in 2011 at this Time 1 litcoin value is around 83.34 dollar
Richest People In Cryptocurrency world
Mike Novogratz:- CEO of Galaxy Digital know as the king of bitcoin Net worth = 700 Million to 1 billion dollar
Brock Pierce:- Former actor and Chairman of the bitcoin foundation advisor at the block.one Net worth = 700 Million to 1 billion dollar
Anthony Di Iorio:- Co-founder of Ethereum and founder of Jaz xx Net worth = 750 Million to 1 billion dollar
Brian Armstrong:- Creator of Coinbase Net worth = 900 Million to 1 billion dollar
The Winklevoss Twins: Entrepreneurs Net worth = 900 Million to 1.1 billion dollar
Joseph Jubin:- Co-founder of Ethereum founder of Consensys Net worth = 1 to 5 billion dollar
Chris Larsen: Former CEO of Ripple labs Net worth = 7 to 8 billion dollar