STEEMKIDS CRYPTO EDUCATION Vol.1. Basics of Crypto currencies.10% to steekidss

What is cryptocurrency? List 5 examples of cryptocurrency apart from the one given in the lecture.

Explain one characteristic of Cryptocurrency. In the example given in the lecture, whose choice would you go for, Jane's or Joe's? Why?

Halo professor @fredquantum,

My name is sheban and I would like to thank you for this education which you are giving us. We have been learning some things from @benton6 and it is a wonderful knowledge to us. Thank you for teaching us.

Let me begin by answering the first question that says;

1. What is cryptocurrency.

According to the work you wrote, I understand that cryptocurrency is not real money. It is digitalised form of coin that can be bought and sold and used to buy things between different users on a network. When you were explaining I remembered my teacher taught us about cowrie shells which was not money but was used by Arabs on the coast for buying and selling goods. For cryptocurrency, it is not found at the coast, but on computers.

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Some examples I found that are not in the list you gave us are;

• Shiba Inu
• Dogecoin
• Harmony
• Kusama
• Monero

2. Explain one characteristic of Cryptocurrency.

One characteristic of Cryptocurrency is it works in a decentralized system where there is no middle man. Decentralization means that there is no central authority like the banks or money lenders and so all power belongs to users. For example, if I have to send money, I don't need to go to the bank or mobile money agent to send but I can just go to my computer and put in my keys to allow it to send. Everyone is thier own boss.

Professor, in the example given in your lesson I would go with Joe's because it makes things easier and is a trust-less system. As long as his keys are safe, his transactions are secure.

Thank you for reading my work professor.