What is a Blockchain?
A blockchain works like a large book or registry on the Internet. This registry is also called a public ledger and it keeps track of all transactions. Transactions are permanently recorded on the blockchain and they cannot be edited or deleted.
The blockchain is shared between many people. If you change an entry in your personal copy, it won’t match everyone else’s version and your edit to the record will be disregarded as invalid because every transfer of money is recorded. You know how much money everybody owns at any point in time so in summary, the blockchain is a public ledger without a central authority. The technology enables digital transactions that are virtually un-hackable and fraud proof.
What is Cryptocurrency?
Cryptocurrency is digital money and there are many different coins. The big difference between crypto and traditional currency like dollars or euros, is that no single entity has control over it. There’s no central bank that can control or print the currency. Which gives you freedom of YOUR money.
Cryptocurrency is available at the click of a button all over the world and anybody can use it simply by installing an app. You don’t need to register with bank or a similar payment provider. With crypto, you’re in control of your money and can give it to anybody no matter what time of day it is or to whom you want to send it.
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Why do we need cryptocurrency?
You truly OWN cryptocurrencies (it’s an asset) and you don’t need to rely on somebody else storing it for you as in the case of keeping money in a bank. This also means you can spend it the way that you see fit. You can choose if you want to do a transaction privately or publicly. Cryptocurrency is accessible to everyone owning a smartphone and we believe cryptocurrencies will be the fair global money of the future.