Random Blog on Crypto (Part 68) : Why Cypto is created in this World (Part 3)

engrsayful (79)modCOMMUNITY MODin Tron Fan Club • 7 hours ago

The topic is very explanatory because it is difficult to answer such a big question with a single post. That's why I am consistently writing on this topic so that you can get a complete answer to this question. To understand the reason we need to understand the concept first and that is what I explained in the last two posts. Today I shall also try to share the basic concept of the network and how they different from the generalised system which exists in the present world. If we can get the idea about the core differences between the current system and this innovative system then we shall be able to explain some reasons behind the creation of the crypto and blockchain technology for the betterment of this world. So let's start today with some basic discussion of the concept of Bitcoin Network and cryptocurrency.

Bitcoin was the first crypto. It was created in 2009. The total history of the blockchain and Crypto network starts from this initiation. Before that it was just unthinkable. The story just begins in 2009 as there was no existence of such a network in this world before that. It was made by someone called Satoshi Nakamoto. Bitcoin allows money to work without banks or governments. Since Bitcoin, many new cryptos have been created. Ethereum allows developers to make apps on blockchain. These apps are called smart contracts and run automatically.

Cryptocurrencies are fast and cheap for international payments. They also give more control over personal money. They can be treated as risky and hard to predict as their value can go up or down suddenly. Some governments allow cryptos, and some ban them. Many countries are still deciding on their rules. Cryptos are becoming popular despite these ongoing problems. Cryptos work with blockchain technology securely. Transactions are verified and stored using miners or stakers. New coins are created through mining or staking processes. Hope this is clear from the basic discussion and hopefully we shall talk on the questions mentioned above in the title in the upcoming next post.