About Cryptocurrency ?
Here is some basic information about the fundamentals, functions, networking and usability of cryptocurrencies.
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About Cryptocurrency ?
Decentralized System: Cryptocurrencies operate on blockchain technology, which is a distributed ledger maintained by a network of computers (nodes).
Blockchain: Transactions are recorded in blocks and added to a chain of prior transactions. This ensures transparency and prevents tampering.
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Mining/Validation: New transactions are verified through consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS). Miners or validators earn rewards for securing the network.
Private and Public Keys: Users have a public key (address for receiving funds) and a private key (used to authorize transactions).
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Supply and Demand: Cryptocurrencies like Bitcoin often have a limited supply, which can drive value based on demand.
Use Cases: They’re used for payments, investments, smart contracts, decentralized apps (dApps), and more.
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