A brief about cryptocurrency

what is cryptocurrency?

Cryptocurrencies, or virtual currencies  i.e. not a physical entity, are digital means of exchange created and used by people or groups electronically. Because most cryptocurrencies aren’t regulated by national governments, they’re considered alternative currencies — mediums of financial exchange that exist outside the bounds of state monetary policy.

Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50”. Due to its political independence and essentially impenetrable data security, cryptocurrency users enjoy benefits not available to users of traditional fiat currencies, such as the U.S. dollar, and the financial systems that those currencies support.

For instance, whereas a government can easily freeze or even seize a bank account located in its jurisdiction, it’s very difficult for it to do the same with funds held in cryptocurrency — even if the holder is a citizen or legal resident. Cryptocurrencies unite the world into a single easily exchangeable financial coins. Here It will be yours, and so you can control to choose the currency, not by the national government.

Private Crypto Currencies

Private Cryptoes are those currencies whose transaction details are secret or difficult to find out. Its mean that such a private cryptoes generally use technologies other than Blockchain.  These crypto currencies can be used in black market easily. So this now came into the light, India is going to ban private crypto currencies, which is going to be an exemplary action against black market, terrorism and other threats related.

Monero is a decentralized cryptocurrency. It uses a public distributed ledger with privacy-enhancing technologies that obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading monero, transaction amounts, address balances, or transaction histories

Public Crypto Currencies

Public Cryptoes are those currencies whose transaction details are usually transparent, easily accessible by public on internet. These crypto currencies are usually based on Blockchain technology or other but with transparency in transaction details. Here transaction details refers to the details of buyers and sellers of the cryptocurrencies. It can be find out which individual has with how much cryptoes now, from whom he/she bought these cryptoes, and if sold, then to whom he/she sold etc.

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

If you want to see top 20 holder of any crypto coin :

Go to coinmarket.com >

Search the coin by coin name, in the top left hand side.

Slide Down a bit

click on holders or click here to see a coin’s top 20 holders name.

Note : Above trick may not work for some coins.

By admin

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