What is Cryptocurrency?
A cryptocurrency is a mode of monetary exchange, similar to the Canadian or U.S. dollar, but exists in digital form and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.
The world’s first decentralized currency (or cryptocurrency) surfaced in 2009 and a host of programmers soon joined in the collaborative effort to create bitcoin. With a value that initially began at $0 dollars, the value of all bitcoins in the world is currently worth over $500B USD according to CoinMarketCap
Cryptocurrency and the Blockchain
Cryptocurrencies and the blockchain are complex concepts to understand.
Despite the incredible surge in people investing in cryptocurrencies, many of those same investors admit that they know nothing or very little about how crypto markets work. Are you among them?
Why not be among the people in the world who understands the blockchain, cryptocurrencies and the potential they have for the world?
While the blockchain was created alongside the first cryptocurrency, known as bitcoin, they are not synonymous with each other. A fitting analogy that people use to describe the relationship between the blockchain and bitcoin is that the blockchain is the worldwide web and bitcoin is an email.
The blockchain is substantially bigger than a particular cryptocurrency, with the potential to change healthcare and voting with unalterable, verified, and quickly transferred data.
Experts will tell you that it is beneficial to consider blockchain technology as a next-generation business process improvement software. Such advancements in collaborative technologies like blockchain improve business relationships between companies and have the potential to increase revenue.
After being on the edge of his skates for decades, Trevor now finds purpose by being on the cutting edge of such exciting advancements – a notable and apolitical shift toward opportunity for everyone on the planet.
Links & Resources
Here are a few great resources to get you started on your journey to learn more about cryptocurrencies and blockchain technologies.