Basic Concept for the Cryptocurrency

In present days the world the rapidly changes its way to trade and Cryptocurrency  is the most important part this change, because cryptocurrency are work freely workable currency that are not own by any organisation or Govt they are solely depend upon internet and computing power of the people and investors.

Term Cryptocurrency are made with two things Cryptography and the Currency,  that provide P2P or Personal to Personal transactional ability without any third party interference like Govt or Banks.
Crypto currency was first described by Wei Dai in 1998, He suggest the new form of money that uses cryptography to control its creation and transactions, rather than a central authority.

What is Cryptography:

Term Cryptography comes from the Greek word called "Crypto" which means "Hidden Secret",  Cryptography are used to Encrypting and Decrypting large amount of complex data, Using computer power of calculation, and complex Logarithms. Basically in Cryptocurrency making cryptography are used to manufacture it, While transact cryptocurrency it need lot of processing power that encrypt the whole history of cryptocurrency using BlockChain method.

What is BlockChain:

Blockchain is the whole history cryptocurrency that are encrypt in a digital form, That allow the investors and traders to transact Cryptocurrency between each other.

How Cryptocurrency works:

To understand concept of cryptocurrency we made the following points:

1. Cryptocurrency is not more than just a data that are encrypted and which have some value in a market.
2. Data can be mined using large Calculations of Computers, Or Cryptocurrency can be made in home.
3. While transact this data user charge money in exchange of cryptocurrency to other user, That called investing,
4. Both user have his own Public Key or Address where they own their cryptocurrency.
5. There are also a transaction fee in trading with cryptocurrency, but generally they are part of transaction processing power providers which give their computer power to enable the transaction.

Features of Cryptocurrency:

1. Not owned to Govt: The cryptocurrencies are not owned by anyone, hence this currency provides P2P enabled transaction facilities, 
2. Can be Mined: Personal can create his own cryptocurrency by using it computer power.
3. Acceptable worldwide: The Cryptocurrency are acceptable worldwide if their is not any restriction by the Govt.
4. Rate Determined by Demand and Supply: This currency rate are determined by its Demand and Supply in market.
5. Unstable Currency: Since this currency are not managed by any organization this are very unstable or risky in nature.
6. Unpredictable: This currency is can not be predicat by any one, It may be Zero at time when Internet fails, 
7. Digital form: Cryptocurrency has not any tangible form or It is in purely digital form.

Is Crytocyrreny is legal?

This Statement is true in most of countries, that in india Cryptocurrency is banned to trade, But in most of countries this currency are accepted in local markets also,

How we can make concurrency?

This question comes in my mind while i am looking for some Home based internet work, So,lets discussed on that...

First of all we know that Cryptocurrency are digital form of money, But we can also earn them using mining technique, that can help blockchain in encrypting and decrypting data using your computer power in return we have Cryptocurrency. following things we need for data mining.

• Mining CPU : Local PC can also mine cryptocurrency, But Mining CPU Specially made for data mining.
•  High end Graphic Card: In Mining need lot of calculation power that are comes from High end Graphic Cards.
• Crypto Mining Software: Like CGMiner and EasyMiner are available in market that give us user friendly mining platform and other information about cryptocurrency.
• Electricity: Mining is the time and power consuming technique, hence we need power to mining. 

Outsource Monster Team.