Hello Bro! As promised, the second part of the article is ready. Let's go!
🟦 What is cryptocurrency and how is it developing?
Cryptocurrency is digital money that uses blockchain technology to operate. The very first and most famous is Bitcoin. When a person transfers cryptocurrency to another, this transaction is recorded in a block and added to the chain. This way, all participants in the network can see and confirm the transactions.
To confirm transactions, special algorithms are used - mining or confirmation. Miners are participants in the network who solve complex mathematical problems to add new blocks and receive rewards - new coins. This makes the system self-regulating and sustainable.
Over time, many other cryptocurrencies have appeared - Ethereum, Ripple, Litecoin, and many others. Each of them offers its own features: for example, Ethereum allows for the creation of smart contracts, while Ripple enables quick money transfers across borders.
Technologies are not standing still: security, transaction speed, and scalability are developing. New blockchains are being created that allow for increasingly complex operations and the ideas of decentralized applications - so-called dApps - are being implemented.
🟦 Why is this important?
Cryptocurrencies and blockchain can radically change and are already changing our world - making financial operations faster, cheaper, and more transparent. They open up new opportunities for business, allowing for the creation of decentralized systems and platforms where intermediaries are not needed. In the future, technologies could completely change the approach to finance, logistics, data management, and even voting.
