Its base technology, blockchain, ensures its secure operation. Ordinary people like us are responsible for making it a reality. They are circulated (mined) and used without the centralized control of any public or private institution. Bitcoins are digital coins managed at decentralized digital ledgers called blockchains. You can check the complete list with details like their market cap, current price, etc., at CoinMarketCap.įor simplicity, I’ll sometimes use Bitcoin to refer to cryptocurrencies in general and bitcoin to mention it as the individual currency. Most popular are Bitcoin, Ethereum, Cardano, Tether, Binance Coin, XRP, etc.
There were 5,840 cryptocurrencies as of August 2021, according to Statista. It’s sort of a digital (or virtual) coin, currently valued at USD 45,597 a coin, down from USD 63,569 on 14th April 2021. This is the one that started all of this, bitcoin, the biggest of all cryptocurrencies. So let’s take a deep dive into the crypto world to reveal its subtle details.
Indeed, it stays concealed from ordinary people as some technical knowledge is warranted to start with the crypto universe. Fret not this article will explain everything about cryptocurrency mining and related terms.Ĭrypto is derived from the Greek word kruptos meaning hidden. But Cryptocurrency Mining is one step ahead in pushing people to scratch their heads. Cryptocurrency is fascinating and puzzling at the same time.
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