Cryptocurrency for Dummies: Definition and Types
“What are cryptocurrencies?” — This can be a common but baffling question often asked by interested folks. Cryptocurrencies obtained more enthusiasm due to the remarkable advantages it may supply. Not surprisingly, lots of people still don't get the real gist of cryptocurrencies. In addition, due to the scarcity of easy-to-digest understanding of it, people tend to stray away from investing. How do they really work? Here's cryptocurrency for dummies: What are cryptocurrencies? Cryptocurrencies are digital units of currency. Cryptocurrencies, like Bitcoin and Stablecoin, are decentralised. This means transactions don't go through a central authority like a bank. Therefore, once you send money to a different person, no body else can access your cash. Who will track every one of these transactions? Anyone can track them. Wait, what? Relax. Networks of users and high power computers, called blockchains, securely track all those transactions. Samples of b...