Cryptocurrency: Mining the future

 Courtesy: Md. Badrul Ahsan Tamal, Student, Green University of Bangladesh

Nowadays we are using cash money or somewhat taking the digital payment gateway system to do our transactions, but did we thought about digital currency or how it works what it is called and how the world accepting beyond the cash and what they worth? Well, the answer is cryptocurrency.

Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the goods or service that the company provides.

Cryptocurrencies work using a technology called blockchain. Blockchain is the technology that enables the existence of cryptocurrency. Blockchain spread across many computers that manages and records transactions. Blockchain also performs obstacle for the hackers by creating strong security measurements.

The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. Then the use of currency started in 2009 in the form of Bitcoin. Now more than 10,000 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. Some of the competing cryptocurrencies are Bitcoin, Ethereum, Dogecoin, Litecoin, Cardano etc. combined worth of more than $1.9 trillion.

Cryptocurrencies allow for secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system. Anyone can make their money with cryptocurrency by mining Bitcoin, or simply selling their Bitcoin at a profit.

Now the question is, Are the cryptocurrencies are legal?  There’s no question that they’re legal in the United States, though China has essentially banned their use. If we criticism the cryptocurrency we found that market prices for cryptocurrencies are based on supply and demand, the rate at which a cryptocurrency can be exchanged for another currency can fluctuate widely and its not a material goods or reliant as the cash because cryptocurrency has threat of hacking.