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Chapter 1: Basics of Cryptocurrency 1.1 Introduction 1.1.1 Basic Concept of Money Money is a medium of exchange that facilitates the trade of goods and services. It acts as a unit of account, a store of value, and a standard of deferred payment. 1.1.2 What is Cryptocurrency and How It Works? Cryptocurrency is a digital or virtual form of money that uses cryptography for security. Unlike traditional currencies issued by governments (fiat), cryptocurrencies operate on decentralized networks based on blockchain technology. This means transactions are verified by network nodes through cryptography and recorded in a public ledger known as a blockchain. 1.1.3 What is Blockchain and How Does It Work? A blockchain is a distributed database that maintains a continuously growing list of ordered records, called blocks. Each block contains a timestamp and a link to the previous block, ensuring data integrity. Blockchain operates on a decentralized network of computers (nodes) that validate and record transactions through consensus mechanisms, making it secure and tamper-proof. 1.1.4 History of Cryptocurrency The concept of digital currency dates back to the late 20th century. However, the first successful and widely recognized cryptocurrency, Bitcoin, was introduced in 2009 by an anonymous person or group known as Satoshi Nakamoto. Since then, thousands of cryptocurrencies have been developed, each with unique features and applications. #CryptoTrading #btc #cryptobasics #CryptoBooks #TradingTips
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Rocky Rabbit Listing and Airdrop in September, Save the Date Rocky Rabbit is set to make a major advancement with the listing of its native token, $RBTC, on several prominent cryptocurrency exchanges, including Binance, Bybit, Bitget, OKX, and KuCoin, scheduled for September 23rd 6849832823 #RockyRabbit #crypto #airdrop
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Blum Airdrop Price, Predictions, Listing Date, and More Key Updates The Blum airdrop listing date is eagerly anticipated by the crypto community. Set for late September or early October, this date will mark the first opportunity for airdrop participants to trade their tokens on major exchanges. The listing date is a key milestone in the Blum roadmap, signaling the token’s transition from a speculative asset to a fully tradable cryptocurrency. Blum Airdrop Launch Date Closely related to the listing date, the Blum airdrop launch date is when the actual distribution of airdropped tokens begins. Scheduled for September 20, 2024, this date is critical for anyone participating in the airdrop. The Blum airdrop launch date will likely see increased trading activity as recipients of the airdrop begin to trade their newly acquired tokens. How Much is 1 Blum to Naira? For those in Nigeria, understanding how much is 1 Blum to Naira is vital for evaluating the token’s value in local currency. As of today, the exchange rate between Blum and Naira depends on the current Blum crypto price. Keeping track of how much is 1 Blum to Naira allows investors to assess their holdings in terms of local purchasing power, making it easier to make informed decisions. Join Now https://t.me/blum/app?startapp=ref_9o5vg2BxVN #blum #airdrop #telegrambot #upcomingairdrop
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1.4 Uses of Cryptocurrency 1.4.8 Privacy and security: Some cryptocurrencies, like Monero and Zcash, focus on enhancing privacy and security. They use advanced cryptographic techniques to ensure transaction details are kept private and secure. #CryptoBook #cryptobasics #cryptouses #cryptoguide
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1.4 Uses of Cryptocurrency 1.4.7 Initial Coin Offerings (ICOs) and token sales: ICOs and token sales are methods for companies to raise funds by issuing new cryptocurrencies or tokens. Investors receive tokens in exchange for their investment, which can be used within a project's ecosystem or traded on exchanges.
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