How does crypto currency work and what is its underlying technology?

3 answers

• Apr 30, 2022 · 3 years ago
  Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on a decentralized network called blockchain, which is a distributed ledger that records all transactions. When a transaction is made, it is verified by network participants called miners who use their computational power to solve complex mathematical problems. Once verified, the transaction is added to a block and added to the blockchain. This technology ensures transparency, security, and immutability of transactions.
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• Apr 30, 2022 · 3 years ago
  Cryptocurrency is like digital money that is based on advanced technology called blockchain. It works through a decentralized network of computers that verify and record transactions. The blockchain technology ensures that transactions are secure and transparent. It eliminates the need for intermediaries like banks and allows for peer-to-peer transactions. Cryptocurrencies like Bitcoin and Ethereum are examples of popular cryptocurrencies that use this technology.
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• Apr 30, 2022 · 3 years ago
  Cryptocurrency works through a technology called blockchain. It is a decentralized and transparent ledger that records all transactions. When a transaction is made, it is added to a block and verified by miners. These miners use their computational power to solve complex mathematical problems and validate the transaction. Once verified, the transaction is added to the blockchain and becomes a permanent record. This technology allows for secure and efficient transactions without the need for intermediaries.
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