Currency is the medium of exchange between two parties.A cryptocurrency is a medium of exchange using cryptography to secure the transactions and to control the creation of new units.First cryptocurrency was introduced in 2009 with the name of bitcoin.


Cryptography  is a technique that uses mathematical techniques and computer resources to secure the information  / data.It is a method of storing and transmitting data in a particular form so that only those for whom it is intended can read and process it.It involves writing or handling codes to secure information.


  • It is the technology invented in 1991.
  • It is just like distributed ledger.
  • It maintains the transaction records.
  • It controls the second use of coin.

Cryptocurrency Mining

  • Miners are the most important part of a cryptocurrency network.
  • They contribute their computing power to solve complex cryptography  algorithm.
  • They validate the transaction and record it into a public ledger network (Blockchain).
  • They create the block and announced it to the network.
  • They are rewarded with some coins.

Digital Wallet

A digital wallet is a software to store your coins. It is the simplest way to use a cryptocurrency.  For blockchain transaction it rely on the blockchain hosted by the wallet company.You need a private key to access your assets and authorize transfers from your wallet.

Cryptocurrency Features

  • It is a digital currency.
  • It is stored in digital wallet.
  • Not regulated by any central institution.It is decentralized system of exchange.
  • Does not require any personal information.
  • fund transfers are done with minimal processing fees.It allows user to avoid the high charges by banks for internet online based transactions.
  • It is very volatile.
  • Peer-to-peer cryptocurrency network.
  • Anonymity. It is completely anonymous and at the same time fully transparent.
  • Transparency.The block chain keeps information about everything.
  • Speed.The ability to send money anywhere and to anyone in a matter of minutes.

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