Zinari

<p>A cryptocurrency is a digital representation of value. It can be used pay your friends for transactions, purchase that new pair of sneakers you have been eyeing up, or buy cinema tickets and buy assets. Since it is virtual, it is able to be sent anywhere in the world.   </p><h2 id="header-0">How is this Different from Banks and Financial Institutions?</h2><p>You see, when you deposit your money into a bank or financial institution, they control your money. They decide when you can withdraw it, they loan it out and generate interest, and they can seize your money at will. </p><p>In decentralized cryptocurrencies, there is no such thing. You, your friends and hundreds of others can act as your personal banks through the open source blockchain. Your laptop or phone connects directly to the blockchain, that means you handle all transactions directly – no middlemen required!   To use cryptocurrency, you do not want to enroll in a internet site with an electronic mail cope with and password. You can download a simple apps onto your cellphone, and start transacting immediately.</p><h2 id="header-1">What is the Origin of the Word &#34;Cryptocurrency?&#34;</h2><p>The name cryptocurrency is derived from <em><strong>crypto</strong></em>graphy and <em><strong>currency</strong></em>. With cryptography, we use complex calculations to secure our transactions, making sure that nobody else can interfere with it.</p><p>There&#39;s no need to go indepth – all applications you use will do all the job(unless you want to learn blockchain development). You won&#39;t even know what&#39;s going on behind the scenes. It&#39;s like trying to learn how the clock works, instead of learning how to use the clock.</p><h2 id="header-2">Why Should You Use Cryptocurrencies?</h2><h3 id="permissionless">Permissionless</h3><p>No one can stop you from using cryptocurrency. Centralized payment services, on the other hand, can freeze accounts or prevent transactions from being made.</p><h3 id="censorship-resistant">Censorship-resistant</h3><p>Because of the way the network is designed, it&#39;s virtually impossible for hackers or other attackers to shut it down.</p><h3 id="a-cheap-and-fast-payment-method">A cheap and fast payment method</h3><p>When you make a transaction to someone at the other side of the world, your money can be with them within seconds – at a fraction of the cost of an international wire transfer.</p><p>No one can stop you from using cryptocurrency. Centralized payment services, on the other hand, can freeze accounts or prevent transactions from being made.</p><h3 id="a-cheap-and-fast-payment-method">A cheap and fast payment method</h3><p>When you make a transaction to someone at the other side of the world, your money can be with them within seconds – at a fraction of the cost of an international wire transfer.</p><h2 id="header-3">Who Invented the Blockchain?</h2><p>Amazingly, nobody knows who invented it. We only know them by their psuedonym - <strong>Satoshi Nakamoto</strong>. Satoshi could be a single person, a team of programmers, or if you love conspiracies, a time-traveling alien or secret government agency.</p><p>Satoshi published a well-worded 9-page <a href="https://bitcoin.org/bitcoin.pdf" rel="noopener noreferrer nofollow">document</a> in 2008, detailing how the system worked. Months later, in 2009, the software itself was released.</p><p>Bitcoin became the basis for many cryptocurrencies. Some of them are based on the same software, while others have taken a completely different approach. </p><p>Is there a difference between all  cryptocurrencies?  Yes, there is! Some are faster than others, some are more private, some are more secure, and some are more programmable. Each cryptocurrency is unique in it&#39;s own programming and aim, but at the core, is cryptography.</p><p>There is a  saying in the world of cryptocurrency “Do your own research” (or DYOR). We are not saying this for frivolous reasons. It simply means that you shouldn&#39;t take information from one source as  truth. Make sure you do your due diligence before investing money in a particular project.</p>

What Are Cryptocurrencies?

Table of Contents

ZinariCoin

Other articles published on Jan 28, 2022

Feedbacks and Suggestion

GovWorld AMA Recap

Helsing: Private Firo masternodes in Lelantus Spark

Living on the Blockchain: Podcast Conversation between the Founders of ITSMYNE and UniFarm

Transparency Report

FOTA Heroes: Keisha - Duty Above All

Join our free newsletter for daily crypto updates!