Even though we use money in our everyday life, we rarely stop to think about its power and its shortcomings. It’s a tool that has always been at the center of human progress and that’s why as we keep building and tackling complex financial situations, the best tools available are necessary. Cryptocurrencies provide access to various financial services to anyone with an internet connection and are contributing substantially to the concept of a global economy. More than 2 billion people possess a mobile phone these days but only a portion have access to financial services. The power of cryptocurrencies lies in the fact that they enable anyone to participate in the global economy.
If you have read about the concept of cryptocurrencies in the past, you would have surely noticed that the word ‘decentralization’ is always present. However, what does it really mean? Decentralization is the concept of eliminating a single point of failure, in this case, banking institutions. For example, if you invest all your capital with a single bank and the bank fails, you’ll probably lose all your money. This is not the case with cryptocurrencies where individual nodes (like hard drives or phones) all hold amounts of money and are unlikely to fail at the same time. It also means that you no longer need the middleman to keep track of an internal ledger.
The blockchain is a decentralized, distributed, and public digital ledger consisting of blocks. It records transactions across many computers so that blocks are not altered retroactively, without the alteration of all subsequent blocks. Furthermore, it creates a network effect that’s unbreakable and offers evenly distributed opportunities to the world.
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Crypto trading in a real-time exchange.
The largest cryptocurrencies by market cap available. Trade Bitcoin, Ethereum, Ripple, Litecoin, and more.