The meaning of cryptocurrency,cryptoexchange and block chain technology.

in hive-139324 •  3 years ago 

Hello steemits,
Beatifull women and men of steemit here is Milly Gabby right away from Makerere University Business School Kampala Uganda based in kyotela district Uganda.

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   Today I have come to talk and elaborate more about the meaning of cryptocurrency ,cryptocurrency exchange and block chain technology as shown below.

A crypto currency is a digital or virtual currency that is secured by cryptography which makes it nearly impossible to counterfeit or double spend.Here crptogray means protecting information and communications through the of codes so that only those for whom the information is intended can read and process it .
Many cryptocurrency so are decentralized networks based on block chain technology-adistributed ledger enforced by a disparate network of computers and a definin feature of cryptocurrency especially is that they are generally not issued by Central authorities.Examples of cryptocurrency include the following,
1.Bitcoin.
This is entirely electronic form of funds that can be transferred securely directly from user to user without the need for intermediaries like there is no bank or administration needed.
2.Spotify.These are using a decentralized database to correlate artists with license agreements and tracks.
3.Maersk. A ccoperative blockchain effort called Trade he s has been created by Maersk and IBM.An open and neutral industrial players.The platform promotes a more efficient predictable and secure exchange of informational cross the global supply chain.
4.Aeternity.
Is a scalable Block chain platform that can be used for many application requiring high speed transactions.These can includsmartcontracts, secure document exchanges and nano/ mcro payments.
CRYPTOCURRENCY EXCHANGE.
This may be an online entity that exchange transfered money and digital currencies electronically.It may be a phisicall bricks and motor business that exchanges digital currencies and uses traditional payment methods.
These can be traded using electronic monetary units,Fiat currencies or other digital assets like dollars, euros, poundss yen and yuan for example are Fiat currencies that government declare as legal.Digital assets are assets that exist electronically such as domain names, files,virtual property or digital.
Examples of best exchanges include,coinbase 0.50% spred for buy or sell transaction fee from $ o.99 to 2.99 up to 0.50% for coinbase pro for Bitcoin for used individuals and insituitions.

  BLOCK CHAIN TECHNOLOGY.
      This is a chain  of  blocks  with coin informatiom .The data which is stored inside a block depends on a type  of block chain. Block contains information about the sender, receiver,number of Bitcoin to be transferred .The first block in the chain I called the Genesis block. 
  Block chain technology can be used to create a permanent public transparent ledger system for compiling data on  sales  tracking digital use and payments to contemt creators such as wireless users or musicians. 
 Down more examples of cryptocurrency include,Ethereum, Ripple, Stellar NEO Cardano etc  among others .Thanks  very much guys read the above and you will get to more about their  meaning and u get to use them for more purposes.
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