Digital currency

Digital currency:

Digital currency is actually money that is used on the Internet.

Digital currency exists only in digital form and has no physical equivalent in the real world.

However, it has all the characteristics of physical money.

Like physical cash, you can receive it, transfer it or convert it to another currency.

You can use it to pay for goods and services, such as paying bills, buying from online stores, etc.

Digital currencies have no geographical or political restrictions and transactions can be done from anywhere in the world.

In fact, digital accounts and wallets can be considered like bank deposits.

Cryptocurrency

Cryptocurrency is a type of digital currency.

Cryptocurrency is considered as a medium of exchange.

This currency is a kind of credit and safe code.

Because it is based on encryption and code.

One of the primary goals of creating cryptocurrencies is communication and how to establish its security.

These currencies create, experiment, and analyze algorithms and protocols, and therefore, during a transaction, this information will not be changed or transferred by a third party.

Cryptography is a combination of different sciences based on mathematics.

It is mathematics that gives functionality and reliability to algorithms and protocols.

Cryptocurrencies use blockchain and a decentralized ledger.

This means that a centralized unit or power does not control and monitor the activities of the network.

The size of this network is equal to the number of its users.

Platform

The term platform refers to software that provides facilities and services to users of the software.

In order to facilitate the use of the software, users must own or use a specific coin or token.

Extraction

Miners try to add the next block to the blockchain by solving mathematical transactions and get their reward.