The concept of cryptocurrency was coined in 1991. However, the first real implementation was done in 2008 by Nakamoto. The first question arises, what is cryptocurrency. It's a financial setup in which the currency is being transferred between the two parties. In the beginning, problems like double error method arose, though the problem was solved afterward through concepts such as block chain technology. The whole process is governed through the cryptographic algorithms. A set of public and private key is being transferred between the two parties. The detail of each transaction is stored in each block and for each client;a chain of blocks forms the complete list of transaction. All the blocks together form the block chain. These block chains are nothing else but the financial ledger. The power of this new currency transaction system depends upon the power of cryptographic algorithm. With implementation of algorithms like DES, the secrecy of each financial transaction (block chain) has been strengthened. nft是什麼周杰倫 However, still the concept has not been approved by many countries. The data of each block cannot be altered retroactively or without network consensus. The share of cryptocurrency is not that much currently though with time, it is expected to rise.
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Some of the features of cryptocurrency are:
• Decentralized
• Distributed
• Public ledger
The most important aspect of cryptocurrencyis the above but technology requires
