ECONOMICAL IMPACT OF CRYPTOCURRENCIES 10% to Tron-fan-club
CRYPTOCURRENCY
The rise of cryptocurrency has resulted in the emergence of a new market. Currencies such as Bitcoin and Ethereum, among others, have paved the way for a new type of market, one that, unlike the current money system, is decentralized.
In the not-too-distant future, cyberspace will emerge as the governing body that will oversee and preserve such disruptive markets.
Cryptocurrencies are disruptive economic inventions with the potential to completely transform the current economic structure and the way banks and financial institutions operate.
Bitcoin is the most widely used cryptocurrency, allowing two parties to conduct digital transactions without the need for a third party to act as an intermediary.
Every transaction is digitally recorded in blocks that operate as ledgers, and each block is filled before a new one is created.
All blocks are linked together by hashtags, and the blocks are arranged in a chronological order to form a blockchain. As a result, every transaction is digitally recorded to maintain the highest level of security.
Despite the fact that the transactions are recorded, no information about the persons involved in the exchange is revealed. Only when the money is tracked is when it is swapped to fiat currency (cash).
The possibility of a massive change in the financial sector around the world has been established by this public means of conducting transactions.
Governments and banking organizations have been apprehensive about crypto-currencies because their economic authority is at stake.
CONCLUSION
The rise of cryptocurrency has resulted in the emergence of a new market. Currencies such as Bitcoin and Ethereum, among others, have paved the way for a new type of market, one that, unlike the current money system, is decentralized.
In the not-too-distant future, cyberspace will emerge as the governing body that will oversee and preserve such disruptive markets.
It's worth noting that the near-zero transaction costs have elevated these currencies above the standard money we've grown accustomed to.
What can be said with certainty is that this is only the beginning, and the number of possibilities in the future is limitless.
Thanks for reading. I wish to share more knowledge and as well gain more in this fascinating community.