Cryptocurrency is one of the biggest breakthroughs in our modern technology, on my own simple understanding today, cryptocurrency is designed to send transactions faster, accurately, secure and transparent, but somehow anonymously.
People are dependent on the internet, the thoughts that we express on social media, images of our favorite memes can reach in few seconds to anyone whom you sent it for. Cryptocurrency is designed or created for the sending digital currency that the majority accepted it, without the intervention of banks and regulators.
Accurate and secure
It is designed to be accurate to whom you send your Crypto as a gift or payment, which are verified by blockchain, it is secure as it consists of a unique address where its primary use is for receiving, while your Crypto wallet are securely accessed with your passphrase.
It is transparent because all transactions are recorded in the blockchain, publicly. Everyone knows how much through the public ledger which address received the transaction, and from which address who sent the crypto.
There is no specific Identity of who owns the receiving address, and the sender’s identity. which is anonymous. But not until today where most wallets are KYC regulated, but still few who own are anonymous.
Cryptocurrency are widely used as Investments
As more people are getting into Cryptocurrency, from the very concept of why its created, the majority who owns crypto prefer to hold them rather than spending them to buy products, because of its volatile state that most people and exchanges can leverage it to the extend of multiplying their assets/money.
Bitcoin and Ether
Bitcoin is the very first Cryptocurrency, followed by Ethereum, which is created through the influence of Bitcoin, but with a different and wide variety of agendas.
Both have values and have a substantial part in Cryptocurrency and crypto market, the only difference is, BITCOIN was created to be a digital currency, while Ether the currency of Ethereum, is created to support projects that are now dAPP, DeFI and include NFT.
BITCOIN remains the number 1 Cryptocurrency with a total Circulation Value of 800B, which is 200 Billion closer to gold.
What Future Lies In Cryptocurrency
As more people are boarding the Cryptocurrency world, the majority of opinions and their expression in supporting cryptocurrency are getting louder, not only for Bitcoin and Ether, but also from other blockchains as well, that are fully developed, organized, and added security features to outstand first-comers, and giving a promising platform for everyone.