Everything you need to know about Cryptocurrency

Everything you need to know about Cryptocurrency

Cryptocurrency has been a trending topic in tech since a long time now. Nowadays, more and more people are getting interested in learning about it. Cryptocurrency is a digital currency with no paper notes or coins on the entire planet.

credit: third party image reference

Bitcoin is the first ever cryptocurrency created in 2008. The value of 1 bitcoin in March 2010 was $0.003 and now in February 2020, it is $9780. There are only Bitcoins worth $21 million in the world. Bitcoins aren't earned, they are mined.

credit: third party image reference

Mining is the process of solving complex puzzles and creating something known as a block with the solution of the puzzle.

credit: third party image reference

Once the block is created and attached to a chain of other blocks solved by other fellow miners, Bitcoins are awarded according to the difficulty of the puzzle solved.

credit: third party image reference