Puzzle Solved on CryptoGame: I- What, How & When Cryptocurrency?
CRYPTO GAME 1.0:
What, How & When Crypto-currency came into the market? :
Each one nowadays reads/ listens about crypto-currencies in headlines or from peers. Do you want us to give an idea about it? Because it appears that crypto-currency is on track for more widespread adoption. While there may be some vicissitude and bumps in the road along the way, crypto-currencies and blockchain technology are likely to continue to grow in popularity.
Now long story short: Unlike dollars and cents that can be physically exchanged and tracked, crypto-currencies exist only in the digital domain. Cryptocurrencies work using a technology called blockchain, which is a decentralized technology spread across many computers that manage and record transactions. Why it fancies people, the answer is the security of this technology.
After the global economic crisis of 2008, which affected the financial situation everywhere, in consequence, the coins started losing value. In 2009 Satoshi Nakamoto a person whose identity is still secret, created the first cryptocurrency, Bitcoin. With this, you can manage your money without having to rely on companies, banks, or governments and their fees and controls.
Not forgetting that virtual coins came before that, during 1983. The American cryptographer David Chaum developed a cryptographic system called eCash. Later DigiCash also failed in the market. Also in 1998, developer Wei Dai proposed an "anonymous, distributed electronic cash system" called B-money, but was never fully regulated.
Upcoming blog will cover the following topics:-
Crypto Game 2.0: State of play in major countries on the use of virtual currency
Crypto Game 3.0: Yester fights and rules on crypto in India
Crypto Game 4.0: Upshot of crypto today, and its future in India.