Cryptocurrency

Cryptocurrency

  • What is Cryptocurrency?

A cryptocurrency, crypto-currency or crypto is a digital asset designed to work as a medium of exchange. Individual crypto records are stored in a ledger existing in a computerized database using strong cryptography. Cryptocurrency does not exist as a physical form like paper money.

  • Crypto Mining
In cryptocurrency network, mining is a validation of transactions. For this effort, Successful miner obtain cryptocurrency as a reward. The reward decreased transaction fees by creating a complementary incentive to contribute to the processing power of the network. 

Some miners pool resources, sharing their processing power over a network to split the reward equally, according to the amount of work they contributed to the probability of finding a block. 
  • Crypto Exchange
A cryptocurrency exchange or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies for other assests, such as conventional fiat money or other digital currencies. 

Cryptocurrency exchange rate changes all time. According to the latest exchange rate 1 cryptocurrency (1 BitCoin) price is LKR is Rs. 7,951,464.82

-Thank You-

Information from Wikipedia

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