Good day steemians, My first regards goes to Professor @stream4u for this well organized content. In fact, through the lectures , I'm enlighted about cryptocurrencies, bitcoin and more other altcoins. Hence, from the knowledge of these lectures, I'm thinking about what cryptocurrency is, and how I would like to see it in the future as my homework task posted by Professor @stream4u.
What Is Cryptocurrency and How You Would Like To See Cryptocurrency In The Future?
What is a cryptocurrency?
Cryptocurrency is a special type of currency which is decentralized and in digital form. Today, there are more than thousands of currencies available. Bitcoin is the first cryptocurrency and hence makes it most popular. Other cryptocurrencies include XRP, Doge, Ethereum, Steem, etc.
Each cryptocurrency exhibits unique properties. Crypto as a whole is digital and, hence, there is no bill connected to the crypto you own. There is a place where owners of cryptocurrencies store their cryptocurrencies called digital wallets and these currencies can be sold or purchased through an online exchange. Decentralization is the primary principle of crypto currency.Therefore, transactions in cryptocurrencies are recorded on a decentralized ledger. The ledger is referred to as a blockchain.
What can you do with cryptocurrency?
Cryptocurrency has characteristics of both investment and cryptocurrency, but experts still debate as to whether it is merely one or the other.
You can make purchases using your cryptocurrencies, but it is limited as crypto is not yet accepted widely by retailers.
Cryptocurrency is an alternative investment for many people.
It can also be purchased or sold for cash on the exchange marketplace.
The price of cryptocurrency rises and falls without a predictable demand cycle. You don't know when demand and supply can end up ".
Below are some cryptocurrency terms which you should know.
BLOCKCHAIN: A special database where transactions for cryptocurrencies are recorded and stored either in blocks or in groups.
Decentralized: Cryptocurrency isn't controlled by a central bank or other financial institution.
Exchange: marketplace for purchasing and selling of cryptocurrencies.
Other terms are; wallet, Altcoins and so on.
How does the future hold for cryptocurrency?
Values of cryptocurrencies have rise in recent years. For example, The price of bitcoin rose more than doubled within early 2021, Ethereum rose more than 4times just this year. But whether that growth will be maintained is still in question.
The idea that it's truly worth something that will continue to grow is as the rate of acceptance and adoption continues to grow as well.
Recently, the future of cryptocurrencies- their security, value and power is still in the air. Whatever your motivation or interest, experts emphasize the benefits of making sure you understand the risk factors and volatility of cryptocurrency before investing.
Conclusion
I hope, after reading through this content, you will realise that cryptocurrency is safe for investment at the same time, with lower fees as compared to central banks. The little I talk about cryptocurrency is through the enlightenment from the lectures of professor @stream4u.