Founder Of The Rex Paddock Investment Group. A Crypto Investment Group Dedicated To Connecting Beginner And Expert level investors and Futures Traders. Working to build a safer place for crypto enthusiasts, by providing free sources of information that these investors can use to better their exposure to the space.
How Does Cryptocurrency Work and What Is It?
Crypto is Cryptocurrency a digital asset created to function as a means of trade is. In addition to controlling the generation of new units of a certain cryptocurrency utilizes cryptography to safeguard and verify transactions. Being a decentralised digital money, it is not governed by a government or central bank.
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While cryptocurrency functions similarly to traditional money, it is controlled by a network of computers that use sophisticated algorithms to verify transactions rather than a central bank or government. A blockchain is a network of computers that collaborate to keep track of all transactions in a public ledger.
Here are some important points to think about:
• A digital asset that serves as a means of transaction is cryptocurrency. • It controls the generation of new units of a certain cryptocurrency and employs cryptography to safeguard and verify transactions.
• It is decentralised, which means that neither a government nor a central bank has power over it.
• It operates by leveraging a network of computers that verifies transactions using sophisticated algorithms.
• A blockchain, a public ledger of all transactions, is used to administer it.
Nothing in this video is a financial advice.
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