What is cryptocurrency and what is steamit let us have a look. What is cryptocurrency one thing i am not going to cover technical details of cryptocurrency you need to understand 4 points related to cryptocurrency?
The first thing is cryptocurrency is a digital asset for example if you have a file in your computer that file is your digital asset similarly if you have 4 Bitcoins on a blackchain then that will be your digital assets, so cryptocurrency is your digital asset . The second point is cryptocurrency best way for secured transactions to whatever the transactions you do with cryptocurrency they are safe and secure.Cryptocurrency cannot be created unlimited for example if you take Bitcoin they have some algorithm based on which how many cryptic how many Bitcoins will be in circulation will be determined so how many units of Bitcoins circulate in the system is always controlled and also you can always verify the transfer of assets from one user to another user, so these are the Four Points to be remembered regarding cryptocurrency.
there are different types of cryptocurrency we have Bitcoin and ethereum light kind dash steam, and there are many many more each cryptocurrency has different purpose and different value, for example, Bitcoin was the Pioneer in the cryptocurrency you can use Bitcoin to buy and sell anything and in case of steamit which we are going to deal in more detail is related to rewarding platform for social network and ethereum is the one which was created to accommodate developers to create different types of apps based on blockchain, so these cryptocurrencies have different purposes and different value so there are many many cryptocurrencies and day by day we have new cryptocurrency
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!