Let’s talk Crypto currency. Well what is crypto currency? To answer this, I will just say one word- Bitcoin. Well Bitcoin is not crypto currency, but it is one type of crypto currency. Most people would understand what bitcoin represents, so if you know how bitcoin operates then you have knowledge on how to crypto currency operates.
Bitcoins are created in response to mining and to create a blockchain. Created in 2008 by an undisclosed individual or group, this is one popular crypto currency. Bitcoins can be used in exchange of any service or current or products. This is considered as a third type of currency to the government issues currency and gold and silver. This currency has been placed in circulation as a currency by the public.
You should create a bitcoin account to keep track of how much you have made and all the transactions made.
What would you need to do to keep your account moving?
There are some things that you would need to do to create and keep your bitcoin account.
This is a public ledger which is used to record and track all bitcoin transactions. There is a network of various communication nodes that run and maintain the block chain. About every 10 minutes a new group of transaction is accepted (block) and added to the blockchain.
Transaction is like a scripting language, and transactions consists of one or more input and one or more output. Users can send bitcoins to multiple receivers in one transaction.
Mining is a record keeping service. Miners keep the blockchain consistent and miners repeatedly group newly broadcasted transactions. This is broadcasted and is verified by various recipients.
To use bitcoin you would need to create a bitcoin account. Bitcoin is the currency of your future.