How do crypto currencies work?


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How do crypto currencies work?
Many rely on blockchain, a technology that allows a decentralized network to review and approve transactions. The blockchain is similar to a digital register: all actors in a network receive a copy of this register and can reject any attempt to modify it.

The blockchain actually acts as a database, allowing large volumes of information to be stored that cannot be changed. However, by relying on a peer-to-peer network to verify any new transaction added to the blockchain, the approach to trusting cryptocurrencies differs from that of traditional currencies.

The latter are in fact regulated by a bank or a central authority. Conversely, crypto currencies such as Bitcoin or Ethereum are not managed by any central institution. Likewise, no authorized third party (banks, for example) oversees cryptocurrency transfers. It is this aspect of cryptocurrency that attracts users, but can also complicate payments.

Pay with cryptocurrency
Yes, you are not dreaming: you can pay with cryptocurrencies, which despite everything remain a form of currency. Many websites and online stores accept Bitcoin as a method of payment. With cryptocurrencies, you can buy everything from NFTs to plots of land in a video game.

To make a virtual purchase with cryptocurrency, you need a cryptocurrency wallet, in order to keep your cryptocurrencies safe. Each wallet contains public and private keys that you can use to spend and receive change. The public key is a code known to everyone in a system. The private key is only known to the user and allows him to validate his transacti

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