Cryptocurrency is a digital currency built on peer-to-peer blockchain technology, it can be utilized to buy products or services, and even for online transactions.
People can also trade cryptocurrencies for benefits and profits, it holds the future of currencies, and the technology behind cryptocurrency is extremely secured.
The man behind the story of cryptocurrency is David Chaum, he is a cryptographer and a computer scientist, he developed a cryptographic system in 1983 called eCash, later twelve years he developed another system called DigiCash, this system used cryptography to make secured transactions.
The first cryptocurrency was introduced to this world by Satoshi Nakamoto in 2009, he introduced that cryptocurrency with a “Bitcoin” name.
It was right after the global economic crisis that has begun in 2008, he created this cryptocurrency as a new way of payment.
He aimed this cryptocurrency to raise awareness among people that there is another form of money called digital currency or virtual currency.
A world with Cryptocurrency
People were not familiar with the term cryptocurrency before the launch of Bitcoin, they often misunderstood cryptocurrency with ‘Bitcoin’.
At the initial stages of Bitcoin, its use and investment were very low because people don’t understand or trust this new form of payment they often consider it a scam.
How Cryptocurrency is changing minds?
Cryptocurrency is changing the perspectives people have about money, it is fulfilling the raising need for a payment gateway, it is proving the best way to do business in the future, businesses can do their business transactions via cryptocurrency it saves their time to visit banks for transactions.
After Bitcoin’s progress, there were hundreds of cryptocurrencies that entered the cryptocurrency industry with gradual raise in their understanding people are attracting more towards the crypto industry.
The present crypto industry is very large many business tycoons are investing in cryptocurrencies, some have introduced their cryptocurrencies.
Tesla owner Elon Musk is one of the renowned names when people talk about the crypto industry he spent a large amount in Bitcoin investment.
The backbone of cryptocurrency is a decentralized blockchain, allowing transactions to be recorded permanently on a blockchain database, it uses a peer-to-peer mechanism, it will give full control to its holders without answering them to any central authority.
Cryptocurrency is also generated through mining, it involves heavy computers that solve complex problems and is extremely costly.
5 Newly Launched Cryptocurrencies
There are several newly launched cryptocurrencies in 2021, include:
- Binance Coin
QZKCoin is one of the newly launched cryptocurrencies in 2021 by a man named Hafiz Nayyar Khurshid, it is built on decentralized blockchain technology.
QZKCoin is fulfilling the payment management services around the globe, it eases people by allowing them to make secured online transactions.
The team of QZKCoin is very dedicated to this project and continuously achieving success in a very short period of its launch, it is enlisted in two renowned exchanges Dex-Trade and Koinbazar.
Benefits of Cryptocurrency
Cryptocurrency holds numerous benefits for businesses and investors:
Cryptocurrencies have long-term benefits for investors as their value is continuously raising and is not likely to face its bottleneck because the technology behind this digital currency will never face its end.
For businesses, cryptocurrencies will be beneficial because it is easy to make payments through cryptocurrencies, business firms can also pay their employees’ salaries through cryptocurrencies.
Cryptocurrency is a digital asset and is getting attention from the government and people around the globe, it holds benefits for people including investors, and businessmen like online trading, transactions, online purchases of goods or services.