Cryptocurrency is e cash. It's virtual money. It's an emerging medium of transactions. Buying and selling on a global basis is possible with cryptocurrency. Real time money transfer is possible with cryptocurrency. Let's examine some of the salient features of this.

1. CRYPTOCURRENCY
Babu Appat

2. A cryptocurrency, in short,
crypto is a digital currency.
This Photo by Unknown author is licensed under CC BY-ND.

3. De-materialised form of
currency. It works as a medium of
exchange through a computer
network that is not reliant on
any central authority, such as a
government or bank, to uphold or
maintain it.

4. Individual coin ownership records are
stored in a digital ledger, which is a
computerised database using strong
cryptography to secure transaction
records, to control the creation of
additional coins, and to verify the transfer
of coin ownership.

5. Despite their name, cryptocurrencies are
not necessarily considered to be
currencies in the traditional sense and
while varying categorical treatments have
been applied to them,
including classification as commodities,
securities, as well as currencies,
cryptocurrencies are generally viewed as
a distinct asset class in practice.

6. Some crypto schemes use
validators to maintain
the cryptocurrency.
In a proof-of-stake
model, owners put up their
tokens as collateral.

7. In return, they get
authority
over the token
in proportion to
the amount
they stake.

8. Generally, these token stakers g
et additional ownership in
the token over time
via network fees,
newly minted tokens or
other such reward mechanisms

9. Cryptocurrency does
not exist in physical
form (like paper
money) and is
typically not issued
by a central
authority.

10. When a cryptocurrency is
minted or created prior to
issuance or issued by a
single issuer, it is
generally considered
centralised.

11. When implemented with
decentralised control, each
cryptocurrency works through
distributed ledger technology,
typically a Blockchain, that
serves as a public financial
transaction database.

12. Cryptocurrencies typically
use decentralised control as
opposed to a central bank
digital currency (CBDC).

13. A cryptocurrency is a
tradable digital asset or
digital form of money,
built on blockchain
technology that only
exists online.

14. Cryptocurrencies use encryption
to authenticate and protect
transactions, hence their name.
There are currently over a thousand
different cryptocurrencies in
the world.

15. Bitcoin, first released as open-
source software in 2009, is the
first decentralized
cryptocurrency.
Since the release of Bitcoin,
many other cryptocurrencies
have been created.

16. In 1983, the American
cryptographer David
Chaum conceived an
anonymous
cryptographic
electronic money
called ecash.

17. Later, in 1995, he implemented it
through Digicash, an early form of
cryptographic electronic payments
which required user software in
order to withdraw notes from a
bank and designate specific
encrypted keys before it can be
sent to a recipient.

18. This allowed the
digital currency to
be untraceable by
the issuing bank,
the government, or
any third party.

19. In 1996, the National Security
Agency published a paper
entitled How to Make a Mint:
the Cryptography of
Anonymous Electronic Cash,
describing a Cryptocurrency
system.

20. Like bitcoin and other cryptocurrencies that
would follow it, bit gold (not to be confused
with the later gold-based exchange, BitGold)
was described as an electronic currency
system which required users to complete a
proof of work function with solutions being
cryptographically put together and published.

21. In 2009, the first decentralised
cryptocurrency, BITCOIN, was
created by presumably
pseudonymous developer
Satoshi Nakamoto. It used
SHA-256, a cryptographic hash
function, in its proof-of-work
scheme.

22. In April
2011, Namecoin was
created as an attempt at
forming a decentralised
DNS, which would make
internet censorship very
difficult.

23. Soon after, in October
2011,
Litecoin was released.

24. It used scrypt as its
hash function instead of
SHA-256. Another
notable cryptocurrency,
Peercoin, used a proof-
of-work/proof-of-stake
hybrid.

25. On 6 August 2014, the
UK announced its
Treasury had
commissioned a study of
cryptocurrencies, and
what role, if any, they
could play in the UK
economy.

26. The study
was also to report
on whether
regulation should
be considered.

27. Its final report was published in 2018,
and it issued
a consultation on cryptoassets and st
ablecoins in January 2021.

28. In June 2021, El
Salvador became
the first country to
accept Bitcoin as
legal tender.

29. In August 2021, Cuba
followed with
Resolution 215 to
recognize and
regulate
cryptocurrencies such
as BITCOIN.

30. Now most of the
countries over the
world, including
India accept the major
crypto currencies
including DENOEX.

31. As an introduction this is what we've
got to say about
CRYPTOCURRENCIES.

32. Enter into the
generationext trades

33. THANK YOU
appat2@gmail.com