What is cryptocurrency? different between cryptocurrency and Normal Currency? in Urdu Full Explained

Описание: Video Title: What is cryptocurrency? different between cryptocurrency and Normal Currency? Full Explained


What is Cryptocurrency?
A #cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership


Difference Between Centralization and Decentralization
Centralization and Decentralization are the two types of structures, that can be found in the organization, government, management and even in purchasing. Centralization of authority means the power of planning and decision making are exclusively in the hands of top management. It alludes to the concentration of all the powers at the apex level.
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Traditional currencies are managed in a centralized hub-and-spoke system, while many cryptocurrencies operate in a decentralized structure with no intermediaries.


The Difference Between Fiat Money and # #Cryptocurrencies
What Is Fiat Money?
Fiat Money is a kind of currency, issued by the government and regulated by a central authority such as a central bank. Such currencies act like legal tender and are not necessarily backed by a physical commodity. Instead, it is based on the credit of the economy.

Fiat currencies such as the US Dollar, Pound or Euro derive their value from the forces of supply and demand in the market. Such currencies are always at risk of becoming worthless due to hyperinflation as they are not linked to any physical reserves such as commodities.
What is a cryptocurrency?
A cryptocurrency is a form of digital or virtual currency that can work as a medium of exchange. Being virtual in nature, they use cryptography technology to process, secure and verify transactions
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