Good evening twitter, we are here again, special regards to Africa. Today, we would be going into Cryptocurrency as a concept! Sit back grab your pop corn and enjoy #bitcoin #ethereum #Binance #finance #blockchain #money #cryptocurrencies #cryptonews #instablog9ja

The first thing we should know, is that Crypto as it's popularly called, is not a monkey's business. Like in our previous thread where we talked about money, we stated that Crypto is a type of money. Simply put, Cryptocurrency is encrypted money.

They are digital assets which uses cryptography to secure financial transactions, regulate the control of additional units of the currency and verify the transfer of assets. Cryptocurrencies are essentially decentralised and operate via the use of a ledger called the blockchain

A blockchain is list of records, growing ones called blocks that are linked using cryptography, a blockchain is designed to resist data modification. It is an open, distributed ledger which records transactions in an efficient and verifiable.

A key feature of the blockchain is that it is permanent, coupled with previously listed attributes, this gives idea of a nearly transparent system. Cryptography ensures that most Cryptocurrencies have a fixed number of units that can ever exist.

The foremost decentralised Cryptocurreny the Bitcoin is 21 million in max supply. This means only 21 million Bitcoin can exist at any point in time, this checks the money manipulation seen in in fiat currencies. Other examples include the Ethereum, Ripple, cardano and so on

Cryptos have a somewhat complicated mechanism of action, the parent Cryptos use a proof of work mechanism which would be elaborated in subsequent threads, others utilise a proof of stake, some run on the networks of other Cryptos, this is common with the Ethereum network

Binance coin has a unique type of blockchain called the BFT(Byzantine Fault tolerance). Basically, Cryptos having thier own blockchain are called coins, those running on other Crypto's blockchain are termed tokens
Now some of us may wonder!? How are Cryptocurrencies stored!?

Cryptos are stored using what we call a Crypto wallet!? There are various kind of Crypto wallets with each having thier own peculiarities
1 Hardware Wallets
2 Mobile Wallets
3 Desktop Wallets
4 Web Wallets
5 Paper Wallets
No 2 to 4 can be considered software wallets

The critical question.. Why Crypto!? From our standpoint, Crypto and blockchain is a tool for freedom, its kinetic potentials are insanely dynamic, Crypto is for everyone, old, young, rich, poor, black or white doesn't matter...afterall, money is for everyone.

We have come to the end of thread, drop comments and questions below, we'd do our very best to give Premium answers. Stay tuned for more updates....Africa to the World #bitcoin #ethereum #blockchain #cryptocurrency #Binance #money #instablog #tundeednut #finance #freedom