what is cryptocurrency and how it works
How many cryptocurrencies are there? What are they worth?
More than 10,000 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. And cryptocurrencies continue to proliferate, raising money through initial coin offerings, or ICOs. The total value of all cryptocurrencies on July 9, 2021, was more than $1.4 trillion — down from April high of $2.2 trillion, according to CoinMarketCap. The total value of all bitcoins, the most popular digital currency, was pegged at about $630 billion — down from April high of $1.2 trillion
The answer is, they are remunerated with the underlying cryptocurrency. This incentive-driven system is called a proof-of-work (PoW) mechanism. The computers ‘working’ to ‘prove’ the authenticity of blockchain transactions are known as miners. In return for their energy, miners receive freshly minted crypto assets.
Investors in cryptocurrencies don’t hold their assets in traditional bank accounts. Instead, they have digital addresses. These addresses come with private and public keys -- long strings of numbers and letters -- that enable cryptocurrency users to send and receive funds. Private keys allow cryptocurrency to be unlocked and sent. Public keys are publicly available and enable the holder to receive cryptocurrency from any sender.
It is fair to say that Bitcoin has changed the paradigm -- there has been nothing quite like it before, and it has unleashed an entirely new technology, a new platform for investing, and a new way of thinking about money.
The answer is, they are remunerated with the underlying cryptocurrency. This incentive-driven system is called a proof-of-work (PoW) mechanism. The computers ‘working’ to ‘prove’ the authenticity of blockchain transactions are known as miners. In return for their energy, miners receive freshly minted crypto assets.
Investors in cryptocurrencies don’t hold their assets in traditional bank accounts. Instead, they have digital addresses. These addresses come with private and public keys -- long strings of numbers and letters -- that enable cryptocurrency users to send and receive funds. Private keys allow cryptocurrency to be unlocked and sent. Public keys are publicly available and enable the holder to receive cryptocurrency from any sender.
It is fair to say that Bitcoin has changed the paradigm -- there has been nothing quite like it before, and it has unleashed an entirely new technology, a new platform for investing, and a new way of thinking about money.
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Today we will learn about cryptocurrency. First of all, it is important to know if this is a cryptocurrency. And why such a name was given ?? So understand that the English word Crypto means to be invisible and currency means Vitamin M, meaning the mail of human hands .. I am talking about rupee. Cryptocurrency is usually the rupee that does not appear. Our cryptocurrency is a currency that is far away from our eyes and far from the brain. But don't get such gestures on your face because we are going to get to know this currency very closely today.
In general, those who know about this currency will think of BitCoin as soon as they hear about cryptocurrency. Which is absolutely true but cryptocurrency means only BitCoin is wrong. There are many other types of cryptocurrencies. E.g., Monero, Ethereum, Lightcoin, Bitstone etc. And there are many other types of currencies that I have named here.
The birth of cryptocurrency is anarchist i.e. a group of human beings who were dissatisfied with the current centralized system. He developed this decentralized transaction method. Their purpose was to prevent any intermediaries or any kind of person or system from having information about their transactions. This cryptocurrency transaction is done by Blockchain Technology which we will understand better later.
Now let's talk about BitCoin. This currency was created on January 6, 2009 by a programmer named Satoshi Nakamoto. This coin is in a mathematical form. Like Minerals, BitCoin is mined to bring this currency to market. Even the mine of minerals is underground while the mine of this bitcoin is in the form of a box. And the mining of this coin i.e. the currency from this box is done by a heavy-duty computer and also takes more time. Here the speed of the CPU is measured in Hasrate according to the standard of the computer. This currency comes into the market after the mining of such invisible boxes. The people who do this mining work here like a bank clerk but one thing is different here, the person working in the bank gets paid after a month.
CRYPTOCURRENCIES LATEST RATE
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Crypto News collects publications from various news sources such as Cointelegraph, Bitcoin.com, CoinDesk, Forklog, Twitter, etc. There are more than 100 websites in the list of sources and it is constantly updated with new ones.
Information is provided in English, Russian, German and Spanish languages. The news is systematized in the “Categories”. Also, “Top news” tab contains the most relevant and popular ones. Users can customize the feed and receive information only from certain sources. Each news has an audience interest index. Users will not miss news and events — the push notifications will remind of the most important ones.
If the news seems interesting, but there is no time to read it, you can add bookmark it and return later or find it via the title search function. If you think that the news from a single source is not full enough, the app groups materials on this topic in one list, so you can get the alternative or more detailed version of the story.
CoinMarketCap: feel the market pulse
The CoinMarketCap tab is integrated into the app, so you can be aware of cryptocurrency prices in a real-time mode. There are changes for 1 hour, 24 hours or 7 days; You can choose from a linear or “candle” display of the chart.
The application collects the data about more than 1000 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Dash, NEO, IOTA (MIOTA), Monero (XMR), NEM (XEM), Ethereum Classic (ETC), Lisk (LSK), Qtum, EOS, Zcash (ZEC), Cardano (ADA), Tether (USDT), Stellar Lumens (XLM), etc. The search function can always help you in finding the needed coin, by name or by the ticker symbol. It is also possible to pin all the important coins at the top of the list.
Users can always check the price of a coin on a particular exchange, including Binance, EXMO, Huobi, Kucoin, OKEx and others. It is also possible to track the volume of cryptocurrency trading on the exchanges you are interested in. Crypto News app can notify you about the changes in the coin price, its capitalization, changes of the BTC market share — all you have to do is set the ranges of changes.
Portfolio management
The main function of this feature is to control and monitor the value of various crypto assets. Users can enter the number of coins and indicate the purchase price — the application will calculate their current value and profitability.
The application displays both the total balance and the value of each asset separately. It represents profitability for the selected period in percent and real equivalent. You can choose to display portfolio value from the list of fiat currencies. The service does not require personal data, keys and passwords for performance. You can specify any coin balance — it is not necessary to match your real account.