A NEW DIGITAL ECONOMY

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Today,cryptocurrencies,Bitcoin & Ethereum being the most prominent among them ,are

a global craze ,with their valuations & market capitalization shooting through the roof .

A cryptocurrency is a digital or virtual currency that uses cryptograph for security

Cryptocurrency is a DE-centralized & organic in nature i.e. it is theoretically immune to any

interference or manipulation by any central authority ,even government or regulatory

authorities.

cryptocurrencies use a distributed public ledger called blockchain,

a record of all transaction updated and held by currency holders ,

in order to keep the faith & everything in check .

units of cryptocurrencty are created through a process called

"mining" which uses complicated mathematical formulas to

generate coins.Bitcoin was the first cryptocurrency ,then came a

host of successor, including Ethereum , Ripple & Bitcoin cash ,all

running on their own distributed ledger system .

MECHANISM

Because of its unique & secure features ,cryptocurrencies as well as their underlying

blockchain technology is being increasingly by banks & financial institution across..

The number of transaction on the bitcoin & ethereum trading platform in India has also

increased exponentially leading bitcoin platform are reporting that 3-5 lakh downloads and

adding few thousands user everyday . around thousand bitcoin are traded on a daily basis

on an average.

Comments

Will it be possible that if Blockchain Technology can remould Global Payments System?

Payments are synonymous with a transaction that is guaranteed by a central authority which can be a bank, a payment wallet or an escrow service. Keeping the chronological timeline under consideration blockchain happens to be at the helm of technological advancement in the financial domain. A block is the ‘current’ part of a blockchain, which records some or all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. “Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.” The core value of a blockchain is that it enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints. Hence, with the blockchain acting as a consensus ...

Bitcoin a 'dangerous speculative bubble ,is it?

Mo n e y is a m a tt er o f f a ith, Bits of paper and computer bytes change hands billions of times a day as a measure of value because we trust the promise that they represent .in today's era of fiat money ,those promises rest ultimately on a guarantee by governments that they are valuable . that guarantee , as we have seen , is being questioned as the willingness of governments to live up to the promises of fiat currencies is called into question by the deterioration in public finances We often discuss the ways that new technologies and techniques are being used to improve the digital scenario consecutively To t r e at the debate about the f ut u re of mo ne y as a battle between econo m i c truths is to mi s und e r stand the nature of money itself. ...

DON'T WAIT TO BUY BITCOIN, BUY IT & WAIT...

We all are getting aware of digital world day by day ,digital world are adding new technology on each successive day , things are being converted into digital process . The new digital economy is being introduced , now a days we all are familiar with new type of digital currency bitcoin ,., Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency has been a constant source of interest and confusion since it thrust itself into the mainstream more than five years ago. But interest in bitcoin is now greater than ever. Its value has soared above $10,000 (£8,000), a new high point, turning those who hoarded large amounts early on into millionaires. There are lot's of question that arise in our mind day by day ..just like How does it work? B itcoin works on a public ledger called blockchain, which holds a decentralised record of all transactions...

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