Hi , good morning folks the world is changing really fast and Blockchain technology and the crypto ecosystem is taking a bigger share on that 💯 that why today I want to share some basics of crypto currency for you people not to be left out ..stay with me till the end you most certainly need this info
BASICS OF CRYPTO CURRENCY
Cryptocurrency is a currency in digital form in which every transaction is carried out online without any physical exchange. It is a medium of exchange like any other fiat such as Kenyan shillings (KES), USD, EUR, etc.but differs from fiat in the sense that it was designed to exchange digital information through a process known as cryptography. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. Cryptocurrency empowers ordinary people because no centralized power is required to transact with cryptocurrencies. Bitcoin is the first and most popular Cryptocurrency which was invented by Satoshi Nakamotoin 2009. Currently there over three thousand cryptocurrencies which are classified as tokensor coins.Every other cryptocurrencybut Bitcoin iscalled an Altcoin. A token is a cryptocurrency that is built on existing blockchain. Tokens do not have their own blockchain but depend or exist on an existing blockchain of a cryptocurrency. Examples of tokens include Basic Attention Token (BAT), Bancor (BNT), Status (SNT), etc.
A coin is a cryptocurrency that is independent of any other blockchain.A coin operates on its own independent blockchain and acts like a native currency within a specific financial system. Examples of coins include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tron (TRX), etc.
