Many people are on the steemit platform earning the lush benefits it brings but they do not really understand where the earnings come from.
As a person who is curious about where the goodies come from, I decided to do a little research on cryptocurrency.
According to Wikipedia, A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units and to verify the transfer of assets.
To be honest, when I read this the first time, I was clueless, It did not answer my question of how it came to be. So, I had to find out what the word "cryptography" meant.
According to Wikipedia, cryptography is derived from a Greek word kryptos which means hidden secret and graphien which means to write
From my ignorant stand point, can I say that cryptocurrency is a hidden type of currency? In a way I guess.
Based on what I have read, I want to believe that this currency was made out of the necessity to make secure transactions and ensure anonymity.
Various respected stakeholders in the crypto currency world face advised that one should be careful in dealing with this wonder, as it is like stock, it can rise and it can fall.
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The most popular cryptocurrency is the bitcoin created by Satoshi Nakamoto (no one know who he/she is).
I am glad I did this research, I got a lot of information although some things are not still clear.
Please feel free to drop comments in things I missed. I really want to understand everything concerning this crypto world!
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