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Blockchain, Bіtсоіn, Cryptocurrency and ICOѕ – Here Are All Yоu Need to Know In 10 Mіnutеѕ

Crystal Moore

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In order to understand Crypto Currency, you have to be familiar with only one thing that is safe transactions of digital assets. In this age where everything is becoming digital, it is time we make our currency digital too. Bit coin is the most popular face of Crypto currency now days. The main advantage of Crypto currency is to decentralize the control of currency. You are the sole distributor handler and maintainer of the currency.  E currency is also making its ways to every aspect of daily life e.g. Robocoin opening the Bitcoin ATM and Dogecoin helping Jamaican team to Olympics by using Dogecoins. By the time passes people is getting use to the term Crypto currency (E currency).

ICO (initial coin offering) sometimes also known as IPCO (initial public coin offering) is the process of offering coin to general public or interested buyers. It is same like offering shares in stock exchange.  Instead of issuing shares, tokens are issued in ICO.  Tokens become functional units of currency when the ICO’s funding goal is met and the project launches. This technique is cost effective and required less documents.  Not every country rule in favor of ICO like China banning it in 2017 saying its danger to stability of economy and financial stability because there is no regulatory framework or policies. You should also beware of scams and false profit schemes because thorns also come with roses. You should have to be vigilant in order to get full benefit.

Bitcoin is first digital decentralized worldwide payment system. It’s a direct user system which means transactions carried out directly by users. Bitcoins can be acquired through different mediums by buying or exchange of different currencies products or services. If there are 100 users of Crypto currency 70 of them are using Bitcoins. You can also acquire bitcoin through mining. Mining is technique use to maintain records.

2008 Satoshi proposed an electronic payment system that is based on peer to peer network which is supported by cryptography, instead of relying or trust third party system. In 2009 Satoshi introduced bitcoin which became first decentralized currency to prevent problems such as double spending bitcoin, transactions are recorded on a public ledger using blockchain technology, so everyone in the world can verify who gets paid first.  Today there are hundreds of others cryptocurrency often referred to as altcoins. Unlike centralized banking where govt controls the value of a currency, govt has no control over crypto as they are fully decentralized.

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Blockchain is a Distributed ledger technology that basically can be used by variety of industries. A lot of companies and banks are coming together to use blockchains for mobile payments. It is public electronic ledger and most secured. Block chain is heavenly becoming famous among many industries. Shipping, FinTech and Healthcare industries are using it more often. Blockchain has made its way to Healthcare and Pharmaceutical industry, enhancing healthcare operations. This technology reduces the need for intricate and highly expensive relations and system integrations required to provide integrity-verification and trust for transactions that cross business entities that often requires another party intermediaries.

In other words, world is moving towards digital currencies pretty fast and cryptocurrency ventures are emerging across the globe to make transactions and processes easy and secure.

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