We Simply Change Ownership, We don’t Exchange coins (Interesting fact about how cryptocurrency and blockchain work together)
The cryptocurrency has an interesting relationship with the Blockchain which makes transactions so easy. It leverages the blockchain to create, store and enable the trading of coins. The blockchain is free and was created by Satoshi Nakamoto to help the operation of the Bitcoin.
It is defined as an ever growing list of records or blocks. The blocks are linked to each other by what is called cryptography. Each block contains a timestamp, transactional data, and cryptographic hash. Blockchain can be used in many areas, but the most popular use of this technology is the cryptocurrency industry, acting as a distributed public ledger.
The Blockchain has been designed to provide a record of transactions between two parties permanently. Data recorded are resistant to any form of hacking or modification.
The name “cryptocurrency” comes from the concept of cryptography to secure transaction and create new coins on the blockchain. One interesting thing about cryptocurrency is that they do not move around as the traditional currencies. Cryptocurrencies are fixed on the blockchain. With respect to this, an attempt to send a cryptocurrency to someone does not mean a coin has been changed in hands. We do not exchange cryptocurrency, we just change ownership. ..Read More..