Hello people!! The steemit community is increasing very rapidly So, my this post is just brief introduction of cryptocurrency.
If you don't know what a cryptocurrency or what a digital currency is? then I think taking a look at bitcoin would be helpful to get started. Bitcoin was the first digital currency, a peer to peer payment system, it provides an alternative to government currency, it provides an alternative to PayPal and such others platforms. I think this the future of all currency. It was introduced in 2009, and it's a peer to peer system, that means if you want to send money to someone then there would be no third person or party involved, like government, due to that we have to pay so many taxes on that money. It manages by the public ledger or you would have probably heard the name blockchain. The blockchain that records the transactions.
And there is another term that called mining. So, as I said earlier that blockchain records all the transactions and now the question is who runs the blockchain?
The mining is the process in which you help to run the blockchain by providing the computing power of your computer and also there are dedicated equipments available for the mining purpose, they are kind of high power graphic cards. it is also a profitable business to do but require a complete setup and it is very costly to do. if you can afford it then this is the best time for doing that.
So, now let's talk about the one we are in here for. Yes!! STEEM
It is also the cryptocurrency like Bitcoin but has some advantage over that.
The first one is transaction fee, if you are dealing in Bitcoin then you have to pay some transaction fee over your transfer. But in the steem, you don't have to pay any transaction fee.
In the case of Bitcoin, it is a little bit tricky to send bitcoins but in steem, it is very easy to do so. You just need the use the account name and the memo from the wallet of the person to whom you want to send steem.
So, because of some advantages over bitcoin, I think the future of steem is pretty awesome. Investing in steem also can be beneficial.
Let me know if you have something to share about steem's future?
I will really appreciate if you resteem this post. :)
Have nice day to all......