How Cryptocurrency works, let’s find it through demo

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Reading Time: 6 minutes

 What is Cryptocurrency?

Cryptocurrency is mathematical protected distributed digital file (ledger) that lists accounts and money and it is maintained by the network of peers.

Cryptocurrency is not controlled by any government or a central authority like Bank whereas fiat currency is issued and controlled by a government.

Cryptocurrency and Blockchain-

Blockchain enables cryptocurrency to move from one person to another person.

Let’s understand cryptocurrency concepts and how it works through a demo app.

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Blockchain – Basic concepts

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Reading Time: 6 minutes

Blockchain-

Let’s understand Blockchain and how it works in simple language and through hands-on exercises.

The blockchain is like a distributed database (ledger) where everyone can securely access the data. It is a continuously growing list of records, linked and secured using cryptography.

Cryptocurrencies like Bitcoin are based on blockchain technology and there are many companies have started to use blockchain technology for their different types of applications.

Blockchain technology is based on the following concepts-

    1. Hashing
    2. Block in a Blockchain
    3. A Chain of Blocks
    4. A Distributed Chain of Blocks

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