What is cryptocurrency and how it works? - what is cryptocurrency mining

What is cryptocurrency and how it works? - what is cryptocurrency mining

Today we are in our article What is cryptocurrency?cryptocurrency in Bengali) I will say.

Moreover, the type of cryptocurrency, benefits, advantages and

We will also talk about the difficulties.

Look friends, this is on the internet right now

Everyone has moved on to modern and digital times

The benefits of technology are obvious.

However, the things that have benefits

Some of them, of course, the loss

There will be. Similarly, cryptocurrency and such a modern

Advantages, which have advantages though no disadvantages

Can't say.

Any country bought and sold abroad,

Transactions or for one's own convenience

To get the things you need

They have to be bought.

And, this is buy-cut or transaction

To take the process forward

We need currency.

Bought anything through currency

Let's take that thing for ourselves

And in this case, each is different

The country must have its own currency

There are.

By the way, India has "Indian Rupee",

The United States has "United States Dollar"

Etc.

And we have this kind of currency

I can see with my eyes, I can touch and

I use this market as per the rules.

However, cryptocurrency is one such

The type of currency that is complete with ordinary currency

The opposite.

Because, it is a digital currency (digital)

currency) which you cannot touch

And you can't even see with your eyes.

Because, any of the cryptocurrency

There is no ghostly shape or structure.

This kind of thing happened almost a few years ago

Demand for cryptocurrency or digital currency

And circulation has increased a lot.

Now maybe you are talking about "what is cryptocurrency"

At least you know what. Let's talk about cryptocurrency

Didn't know a little more clearly.

What is cryptocurrency?

(Cryptocurrency in Bengali)

What does cryptocurrency mean?

In fact, cryptocurrency is one of them

Types of currencies that are only online

Using and transacting through the internet

Possible.

And so, these types of cryptocurrencies

Also called "digital money". And as I said before, this kind of digital

We look at currencies phisically,

Can't catch or trade.

Remember, on top of cryptocurrencies

The role of any kind of government

Not staying.

Because, these types of currencies are decentralized

Currency is one of the above

The rights of the board of the agency or government

No.

Cryptocurrency is your digital

which you can catch as an asset

Using online shopping / shopping etc.

Possible.

In addition to shopping, you can use this cryptocurrency

To use for different services

You can.

Remember, in these types of currencies

Cryptography technology is used.

It's basically a peer to peer network system,

Which we use through the internet

To shop against the common currency

I use the case.

Use of these types of currencies

Even without informing the government or the bank Can go

So, many people say that

Cryptocurrencies are also used illegally

Possible.

There are many such platforms online now

There are, of course, JKs

Buy and sell cryptocurrencies

Live.

Of all the cryptocurrencies

Among the most popular and prevalent

The currency was "Bitcoin".

It was made first

And the most used is Bitcoin.

Bitcoin is a lot of cryptocurrency

It has become an argument.

However, currently among the cryptocurrency

The use of bitcoin is very famous and all

Is used more than.

Thus, many other than Bitcoin

There are cryptocurrencies, of which

You may or may not know about it.

Then you understand what cryptocurrency means

So. Different types of cryptocurrency

What are these?

Now below we have cryptocurrency

I will know below about the types.

There are many types of cryptocurrency

Maybe.

I'm just talking about those types

I will say, those are good popularity

Received and used Will go

1. Bitcoin (BTC)

2. Ethereum (ETH)

3. Litecoin (LTC)

4. Dogecoin (Doge)

5. Faircoin (FAIR)

6. Dash

7. Peercoin (PPC)

8. Ripple (XRP)

9. Monero (XMR)

Let's look at the types of cryptocurrencies

Didn't know much better below.

Bitcoin (BTC)

When we talk about cryptocurrencies

Bitcoin is one of the types of names

Will come first.

Because, bitcoin is the first in the world

It is called cryptocurrency. It is said that in 2008 an unknown person or

Named "Satoshi Nakamoto" by the team

Bitcoin was invented.

It is a digital currency that is online

Used for shopping

Is done.

As I said before, bitcoin is a

Decentralized currency on which the government or

Other institutes do not have a hand.

The value of bitcoin is similar to share market.

It decreases and increases.

However, at the present time the value of a bitcoin

About 25 to 30 lakh rupees.

Ethereum (ETH)

The second largest after Bitcoin and

The most popular cryptocurrency is Ethereum.

It's an open source, just like bitcoin.

decentralized blockchain-based computer

program.

Currently used in much larger quantities

Founder of this cryptocurrency

Is "Vitalik buterin".

It is one of the most famous after Bitcoin

cryptocurrency.

The price of "1 Ether" is currently around 70

90 thousand rupees.

However, sometime before the beginning of 2020, "1 Ether"

It cost about 10 to 15 thousand rupees.

Litecoin (LTC)

Litecoin is also a decentralized peer-to-peer.

peer cryptocurrency and an open source

software project called MIT / X11 license

Included has been released.

Released in October 2011 by "Charles Lee"

Was made “Litecoin”.

Moreover Charles Lee was a Google before

employee.

The features of this new cryptocurrency are almost

Same as bitcoin.

At present the value of 1 Litecoin is about 10

From 15 thousand rupees.

Between Bitcoin and Litecoin

There is a special difference to go block

of time.

The Litecoin Network is targeted at 2.5

block time of minutes.

However, targeting within the Bitcoin network

Is a block time of 10 minutes.

So, in litecoin compared to bitcoin

The transactions are confirmed more quickly Stays.

Dogecoin (Doge)

Dogcoin is a cryptocurrency

Invented by Billy Markus and

By software engineer Jackson Palmer.

They are a fast, fun and free payment system

For the purpose of creating this December 6, 2013

Released Dogecoin in.

Popular Shiba Inu with Dogecoin logo

The dog's face is shown.

At present dogecoin has a lot of value

Is reduced.

At present in India, 1 DOGE = 0.62 rupees and 3

DOGE = Rs.

Here too mining is done very quickly.

Like Litecoin, there is also a Scrypt Algorithm

It is used.

Faircoin (FAIR)

Blockchain like Faircoin and bitcoin

uses technology.

But it is said to be better than bitcoin

Performs.

Fast here using much less energy

And secure transactions are made.

To verify the coins in Faircoin

For “proof-of-stake” or “proof-of-work”

Use "proof-of-cooperation" instead Is.

Dash

Dash is an open source cryptocurrency.

Its previous names were Xcoin and Darkcoin.

The name “Dash” means “digital” and “cash”.

Which is called Dash.

It's just like peer-to-peer bitcoin

cryptocurrency which is open source.

However, there are some improvements here and compared to bitcoin

Of course there are modern features.

For example, "InstantSend" and "PrivateSend".

In the case of InstantSend, a user is his

The transaction is easily completed

Can do

However, in the case of PrivateSend each

The transaction is completely safe

Where special attention is paid to the privacy of the user

Is given.

A different kind of algorithm called "X11"

Used in Dash.

In this case, much less powerful

People themselves using hardware

Mining your own currencies

Can take

Peercoin (PPC)

Peercoin is also called PPCoin or PPC.

It's a peer-to-peer bitcoin

cryptocurrency,

Where, proof-of-stake and proof-of-work

Both systems use transactions

In case of verifying them.

Peercoin is like bitcoin

SHA-256 ALGORITHM is used.

Any transaction or mining here

In case of much less power

Is required.

Ripple (XRP)

This cryptocurrency was released in 2012

Which is of distributed open source protocol

Based on

Ripple is a real-time gross settlement

The system that runs its own cryptocurrency

Called ripples (XRP).

Many famous among the masses

Cryptocurrency is it.

Monero (XMR)

This cryptocurrency was originally released in 2014

Focuses on privacy.

Each of these cryptocurrency systems, e.g.

On Windows, Mac, Linux, Android and FreeBSD

Works.

In the case of Bitcoin, the high-end CPU and

is to use hardware,

However, in the case of Monero, the consumer-level

CPU and hardware can be used.

The benefits and advantages of cryptocurrency

(advantages)

In fact, cryptocurrency

The chances of fraud in the case are almost

There is much less.

More than normal digital payment

can be called secure.

Through your own mobile

International transactions are possible.

Compared to other payment options

Transaction fees are much lower here.

Use of cryptography algorithm

As a result, the accounts are very secure

Stays.

Of peer-to-peer payment system

The result is an external source or

Without the approval of the network

Any of the sleeves in the world

From place to place

Payments can be sent and received.

The disadvantage of cryptocurrency

(disadvantages)

Once through cryptocurrency

After making the transaction

It cannot be reversed.

If you lost your currency wallet ID

If so, turn it around

Impossible. Stay in your wallet

This is how the currencies are lost

There will be.

This is also a digital technology and so on

As a result of cybersecurity breaches

Although there is some possibility of hacking

Staying here.

Since cryptocurrency is on top

Any of the government authorities

There is no control, so this is digital

Investing in technology

Definitely a risky affair.

What we learned today,

Friends, today we learned cryptocurrency

Who says (about cryptocurrency in Bangla)

And about the different types of it.

So, if you have ours today

Liked the article,

Then of course share the article

Do.

Moreover, anyone involved with the article

Comment below if you have any questions or suggestions

Let me know.

This article is about cryptocurrency

I have various other platforms having internet

I have collected information from them and written.

So, if there is a problem, you must let us know.