There is this practice and doing that I love when it comes to the cryptocurrency ecosystem. I can see that we are making sure that all we are doing in the cryptocurrency ecosystem are pouting out that we are trying to make sure that we are educated in all that we are doing. One thing that I love about the cryptocurrency ecosystem is that we are related by a single entity that is far more than blood. I love the aspect where we are coming out to support each other in one way or the other. If you are faced by any challenges when it deals and relates to the cryptocurrency ecosystem we all should knows that they are people out there who will come out of thin air to make sure that the challenges that you are facing is being put to sorted. By being put to sorted I mean that it is being treated with all levels of fairness. The love here as at a time frame or period was something else. I remembered before the cryptocurrency ecosystem grow big like this, things were flowing or happening so amazingly, the love was something else and for sure I don't in any way joke with it up till this present time. Many people who witnessed such time frame knows what I am saying i.e the message that I am trying to pass out with what I am doing or saying above. I am wondering that it was like that as at that time base on the very fact that the community was small when being compared to what we are seeing right now. Well, irrespective of that, the love is still moving and that is what really matters. For sure that practice is amazing. I am still happy that we are enjoying and still seeing ourselves as one irrespective of what is happening in the cryptocurrency ecosystem right now.
Cryptocurrency for newbies
With the above being said, the essence of this post is to make sure that we go back to the scratch, we need to start understanding some basic terms and terminology when it comes to the cryptocurrency ecosystem. For some they might said that they are already acquainted by what I am about saying i.e the message that I am about sharing or preaching. There is this popular saying that states that irrespective of whatsoever thing that you are in the world, we all should knows that there is no knowledge that is lost, what you learn today will have impact in your life tomorrow. There is nothing bad in learning something over and over again, with just the message that I am trying to pass above, you should knows that the knowledge will never be of wastage or lost, it will have impact someday. Since it will have impact someday, you should never see or say that this post is not important to you, I will like an avenue where those that knows about this topic can contribute their quarter so that those who are coming from behind can see something to learn from. At least it will be something you should be happy about as it is definitely contribution to knowledge.
I tagged this post cryptocurrency for newbies simply because it is just to enlighten those who are new to the blockchain about what cryptocurrency is all about. Before I digresses further, I will love to say that cryptocurrency can be seen or defined as digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions.
Source
https://www.kaspersky.com/resource-center/definitions/what-is-cryptocurrency
Permit me to break the above into an easy understandable language. I will be using bank as a case study. Take for instance, we are all acquainted by how the banking system is running or being run. Now, the bank is the blockchain while the money in the bank is what we are currently referring to as the cryptocurrency. Now in the digital world, the cryptocurrency is used to send and receive money. What this means is that if you have a digital token like Bitcoin and you want to send it to another person just like what we are seeing in the banking sector, all you need to let the receiver understand is that you are sending from the Bitcoin blockchain (bank), the receiver now has to own same blockchain (bank). Once he has this, he can now send his bank account which is referred to as wallet address in the blockchain world to the sender. The sender can now send the digital token (Btc) to the address which was sent to him. Remember unlike your popular banking sectors that involves physical transaction, the cryptocurrency ecosystem is a digitalized world so your transactions are done in the online world.
I will end the post here, have a nice day.
Post was shared from my hive blog
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