Cryptocurrency: Everything you need to know || Blockchain Technology Explained 2022

Crypto Currency : An Introduction

Crypto currency is a buzzword of this decade. People carry different opinion about legitimacy of the cryptocurrency and blockchain technology.  Cryptocurrency market diminished traditional method of fiscal transaction by eliminating any human interference for the transaction and there is no central authority that owns responsibility, this is also the reason that significant number of people find it hard to believe in the technology which backs cryptocurrency.   

It is also true that there is large number of investors and developers who made millions from scratch by mining, trading and developing cryptocurrency. With blockchain technology anyone can harness the leverage on international economy from any part of world. Let’s have a look on different parameters to understand cryptocurrency.

1: Blockchain technology:    Although blockchain came into fashion in last decade but this technology came into existence in 1991. The technology was way ahead of the time that there was no application existed that time, until in 2009 Satoshi Nakamoto used it in creation of Bitcoin, the very first cryptocurrency.

What is blockchain technology?

So far it is well established that Cryptocurrency runs on blockchain technology. In blockchain technology transaction data is stored and verified at multiple servers, unlike centralized system here anyone can see the details of transaction. Blockchain technology consists of

  1. Blocks: contains transaction data like sender, receiver and amount etc. Also carry hash of the block and the hash of previous block. Hash is an alphanumeric combination, generates for every single transaction on the blockchain.
  2. Chains:  Each block is connected with previous block with hash of previous block. It introduces additional security to the technology. If someone tries to temper with a block it can be easily detected by identifying the hash.
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2: How to make money with Crypto:

For a common person its very easy to make money with crypto platform. Anyone with basic computer knowledge can make substantial amount of money with blockchain technology. This technology gives us freedom to make money online while work from home. A person with limited computer knowledge or a coding expert everyone has opportunity to make money in this system. Here are few ways by following anyone can make money online.

Trading:

Stock Trading is a familiar word for everyone, unlike stock trading the crypto trading works 24×7, so traders can work anytime with ease, on the other hand crypto market is more volatile than stock exchange therefore more chances to make good profit while fluctuating Cryptocurrecy prices.

Development:

If you are good at coding then being a blockchain developer can be most lucrative offer. As per rise of web 3.0 there are very small number of blockchain developers are available as per demand. Solidity is the main language used for coding to create new projects or to write smart contracts.

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Gaming:

Blockchain based play to earn game is next big thing. Experts say that P2E games can replace real jobs in 2022. There are few projects like Axie infinity, farmers world are already giving opportunity to earn million dollars to their players on the other hand massive projects like Sandbox, Decentraland are in their early phase. These open source platform provide equal earning opportunity to anyone irrespective their geographic condition.

 

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