As you all know I'm new to the Steemit Platform but one thing I hate is to be intimidated by big words and unfamiliar terms and they are often used in the Steemit community. If you had read my Introductory Post, I mentioned that I aspire to be the best or at least good in whatever I do.
Before now, I have been hearing people use words like Cryptocurrency, Bitcoin, Blockchain, Mining, Wallets - the list goes on, but I do not know what they mean in real sense (I want to believe I am not left out and that there are still other novice like me on this Platform too). I also did not feel the need to find out what the above mentioned words mean, this is because I usually get bored when people mention them, truth be told, that was one reason I refused to join the Steemit community I felt it should be left to people like and other "gurus" who know better about these topics.
Just this evening I was going through my feeds and I saw a post by about Crytptocurrency, the first thought that crossed my mind was
he has started again with all these his talks, I wanted to ignore as I would have done prior to now, but since I am now more open minded to learn more on this Platform, I decided to read through his post to see what it was all about. As I read, I got intrigued especially at the end where he advised those who knew little or nothing about Cryptocurrency to learn more about it in his words and I quote "give more than you take and read more than you write". I said to myself its time to learn, thanks to google my search began. First, I searched for the meaning of the word Cryptocurrency (term number 1) from Wikipedia The Free Encyclopedia as a beginner- It defined cryptocurrency as a digital currency that uses cryptograpgh to secure transactions (this was simple enough for me to grasp). It also said that the decentralized control of each cryptocurrency works through a blockchain. A blockchain (term number 2) provides the validity of each cryptocurrency, and it is a continuously growing list of records called blocks which are secured using cryptoghaphy. Bitcoin (term number 3) can be stored in a cryptocurrency wallet or digital wallet and Bitcoin was the first Decentralised Cryptocurrency. Mining (term number 4) is a validation of transactions from which successful miners obtain new cryptocurrency as a reward. Wallets (term number 5) - A cryptocurrency wallet stores the public and private keys or addresses which can be used to receive or spend the cryptocurrency. This is the only part I did not really understand so to my fellow Steemians what are these public and private keys or addresses stored in the cryptocurrency wallet? Please Respond!!!
Conclusively, I have learnt so much today in my on little way, thanks to and I am still eager to learn more from the Steemit Community as you have seen above and I wish to also assist fellow novice like me through my untalented posts. I know I have something to offer, it may seem little or irrelevant to you but to me its just a beginning of better days ahead.