Blockchain & Cryptocurrency, Explained

Did you know that the Blockchain market will be worth over $1,000,000,000 by 2030? There are 800,434,000 Blockchain wallet users and the spending on the Blockchain solutions will reach over $11,000,000 by 2022, that means 2.85% of the world population is already using Blockchain.
Rip your back on your sit and let’s dive into the Blockchain world.

BLOCKCHAIN
is growing hastily, even though it’s existed for years. It is complex, technological, and reasonable. It is a peer-to-peer decentralized distributed ledger technology that makes a record of any transparent transaction without involving any third party. It deals with cryptocurrency, trading, trust, value, and exchange. Blockchain is currently experiencing rapid evolution. Since its creation, it has gone through changes and technical implementations.
As I also understand, it is not just uncommonly community or development, it is also a culture and a community that is passionate about creating a better world through DECENTRALIZATION. There are a few primary dimensions of this technology we call The Blockchain.

TECHNOLOGY → DISTRIBUTED LEDGERS → TOKEN ECONOMIES → ORGANIZATIONS →NETWORKS → INCENTIVES

BLOCKCHAIN TECHNOLOGY is a new class of information Blockchain that combines cryptography with Distributed Computing. Blockchain is doing wonders, it serves as a solution to a lot of problems in the world. Let’s talk of Technology; what do you think the “Technological” perspective is? Technological point of view, it is a Distributed Secured Database. It secures your data databases.

DISTRIBUTED LEDGERS
Distributed Ledger Technology (DLT) is a digital policy for taking records of any transaction of assets, in which their details are recorded in multiple places at the same time. Unlike traditional databases that are stored on paper files, Distributed Ledgers have no central data store and are stored digitally using a cloud-based system.

TOKEN ECONOMIES
The token economy in Blockchain will contain a larger space than a sharing economy, it is going to make the exchange of public goods such as money more flexible. The value of the social capital and the natural capital in an economy will be reconsidered via Blockchain which is progressing, etc. The dimensions of the Token Economies include: Block rewards, transaction fees, atomic swags, arm, initial coin offering and price trends.
We won’t dive into it deeply, let’s talk about trading in Blockchain.

EXCHANGE IN BLOCKCHAIN
What is trading in Blockchain? This is the aspect where all cryptocurrencies are traded. Cryptocurrencies are digital assets created using computer networking software that enables trading and ownership. Cryptocurrencies are not to be considered in the traditional sense and do not exist physically. They operate digitally and typically use decentralized control. Words to get familiar with in the cryptocurrency:
• USDT – Tether
• USDC
• Stable coin
• Altcoin – Ethereum, BNB, Sol
• Cex – Centralized Exchange
• Dex – Decentralized Exchange
• Defi – Decentralized Finance
• Cryptography

DECENTRALIZATION
This is the transfer of control of an activity or organization to several local offices rather than one. There is a lot of difference between Dex and Cex. Centralization is best for small organizations, while Decentralization is best for small organizations. Decentralization is used in Blockchain for dependency and control of decision-making.

DEFI
Decentralized Finance(Defi) is a term for financial services on public Blockchain. Earn loop interests, borrow, lend, buy insurance, trade derivatives, and trade assets, and it doesn’t require paperwork or a third party. Fintech (Financial Technology) is a dimension of (Defi). It is very beneficial to the world. Benefits of Defi: fast, flexible, open, pseudonymous, and transparent. There are also histories in Defi, like Blockchain, Altcoins, Nodes, Time stamping, Wallets, Anonymity, etc.

Cryptocurrency
What is cryptocurrency? How do you use it?
Cryptocurrency is a digital asset created using computer networking software that enables trading and ownership. You can trade crypto in any way it uses, but before you know crypto the first thing you need to know is money. Crypto money is just an agreed-upon store of value that everyone accepts as a form of payment to confirm ownership of a coin.
Now the value of money is because we exchange it for something meaningful and useful. It’s not useful in itself, that’s why it’s centralized and controlled by the government and you your central banks. With the dollar and any other currency, you are entirely at the whim of their choices and if they decide to print money and devalue it, you don’t have a say over that, it’s just that your hard-earned money in the back gets eaten away by inflation. Another problem is that if you choose to send money overseas you get hit with high exchange fees, imagine you need to send your friend $10, and the transfer fee is $50 WTF? The great thing about Blockchain and cryptocurrency is that it solves these problems. A complete crypto ecosystem includes transactions and payment services, Defi, social and entertainment, and enterprise Blockchain solutions. There are various types of cryptocurrencies, but the main one is Bitcoin.

Bitcoin
Bitcoin was the genesis of crypto. The world’s enormous and most traded cryptocurrency is a p2p electronic cash system without the need for a third-party intermediary. It was published in an email list called the “cryptography correspondence group” under the alias Satoshi Nakamoto, formed in 2008. Their real identity remains anonymous.

It’s an open-source community due to the bank’s actions during the great financial crisis in 2008. Bitcoin enables its users to be their bank and it can be used digitally. You cannot see bitcoin physically except for free images created by its developers. It’s a truly open payment system that anyone with an internet connection can access.
How Do You Use Bitcoin?
Bitcoin is a store value, to transfer funds more quickly and cheaply, use it like money.
How Do You Get It?
You can buy it in any currency, you can sell a thing online and accept payment with Bitcoin, you can trade and receive payments from brokers, and you can mine bitcoin solving extremely complex mathematics.

If you’re excited about the benefits of bitcoin, you can learn more and purchase on Blockchain.com

Bitcoin is the future of cryptocurrency and the next iteration of money!