So, you are brand spanking new to this crypto world. All this talk of coins and mining and profits… And you want in!!! Well, first let’s give you a basic rundown on CryptoCurrency.
Wikipedia says ….” A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets”
The first successful Crypto was BitCoin. Made in 2009 by Satoshi Nakamoto, Bitcoin was described as “completely decentralized, meaning there are no servers involved and no controlling authority”. A blockchain (or a public ledger of all transactions within the CryptoCurrency network) solved the problem of double-spending. It’s controlled by no one server and therefore cannot be tampered with. This new technology is what is going to change the world in my opinion. Each blockchain has different code and performs differently than others.
Each Cryptocurrency has its own blockchain behind it. When researching a CryptoCurrency the blockchain and its uses are what you will need to learn about. Most blockchains are aimed at solving a problem. For example Ripple’s (XRP) blockchain technology is aimed at changing the way the world transfers money. (More on that in another post).
These are the cryptocurrencies that I will be investing in personally. Getting in while these cryptos are new and still relatively cheap is the key to making money!!!
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