Block Chain Crypto

Block Chain Crypto

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Blockchain Cryptocurrency

A cryptocurrency is a decentralized digital currency that is
backed and encrypted by blockchain technology to verify.
Because of this it can be sent, received, and used all over
the world without limitations, as long as there is a
connection to a node.

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Cryptocurrency and Blockchain Uses

Cryptocurrency allows money to be stored where it is not controlled
by a centralized entity such as a bank. This allows users freedom to
do what they want with their money without having to rely on an
intermediary.

Cryptocurrencies use also goes far beyond money. On the
blockchain of some currencies like Ethereum, users can code “Smart
Contracts” into the blockchain. Put simply, if one action takes place,
the smart contract will then trigger a subsequent action. This allows
decentralized applications (DApps) to be built using blockchain
technology. This again makes it so the applications and programs
being built are decentralized and opens an entire new world of use
for cryptocurrency beyond just money.

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Different Cryptocurrencies

There are thousands of different cryptocurrencies in the world, and
while each is designed to provide some new feature or function:

• Cryptocurrencies are not issued, regulated, or backed by a central
authority like a bank or the government. They are decentralized, not
centralized.
• Cryptocurrencies are created using a distributed ledger (blockchain)
and peer-to-peer (P2P) review.
• Bitcoin and other coins are encrypted (secured) with specialized
computer code called cryptography.
• As assets, cryptocurrencies are generally stored in digital wallets,
commonly a blockchain wallet, which allows users to manage and trade
their coins.

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