Brianna White

Staff member
Mar 25, 2020
The origin of cryptocurrency traces back to 2009, when Satoshi Nakamoto introduced the world’s first crypto coin – Bitcoin – to the world. It was the first time a decentralized digital currency was introduced, and since then, the lure of crypto has been on a constant rise. Not just that, but there are chances of further improvement in the future.
The world is becoming more modern, digital and advanced, and as of now, not just individuals but businesses are also adapting to the changing standards. If you think that your business isn’t able to reach its potential in the local market, taking it to the international market and taking advantage of crypto might prove to be beneficial for you.
That said, before we tell you how crypto can benefit your business, let’s have a brief overview of cryptocurrency and its working algorithm.
What is Crypto and How Does It Work?
Cryptocurrency is the term given to a digital currency that doesn’t have an intermediary party to control its flow of transactions. With the help of a transparent digital process, consumers can connect with each other directly.
Whenever a transaction is to be carried out in cryptocurrency, it is submitted to a public ledger, and it won’t be completed until confirmation of proof of ownership via an encrypted e-signature. Miners are individuals who know how to solve computation puzzles, and they confirm the authenticity of a transaction before adding it to the blockchain.
Additionally, it should be clear by now that unlike traditional banking systems, you don’t have to trust third parties to facilitate the transactions.
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