Simple Guide about BlockChain & CriptoCurrency
A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto Said. He found a way to build a decentralized digital cash system. Cryptocurrency is a digital or virtual currency created and stored electronically in blockchain. It uses encryption techniques (criptography) to control creation of monetary units and to verify the transfer of funds. Hence it is very secure.
Blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central record keeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically.
Initial Coin Offering somewhat similar to IPO (Initial Public Offering) is a fundraising mechanism for new ventures by selling their underlying crypto tokens in exchange for BTC, ETH, LTC etc.
Difference BTW Token and Coin:
Coins are developed with native blockchain technology like BTC, LTC, ETH and Dash. Coins have their own protocol. They don’t run on any other platform whereas Tokens are actually built on other platforms.
Token creation is much easy process. You don’t need to modify a particular protocol or create a blockchain from scratch. You need to follow their standard template on the blockchain such as Ethereum or Waves platform.
Smart Contract Development at SPS INC:
We want to educate our customers and the World to understand its concept to take wise decision. CriptoCurrency is not real money its a virtual money but it require more security whether you buy a coin, token, save them into a wallet or exchange on a platform.