Cryptocurrency Short Story In Our Blockchain

in #cryptocurrency6 years ago (edited)

Why cryptocurrency considered very important to replace the traditional system before? The problem often faced by developers is due to vulnerable networks and multiple expenses. Unwittingly, the transaction happen twice and this is obviously very detrimental to digital currency developers before. Centralized server, which is the data storage transaction is the main target of hackers to rob billions dollars.

In contrast to cryptocurrency, everyone must make their own transactions through the blockchain network. Blockchain is a ledger that can be owned and accessed by everyone, we called Node. There is no centralized system, you can store blockchain at home with your internet connection.

Any transaction changes that occur in blockchain, will change the blockchain in our homes and other places. Each cryptocurrency transaction has a Public Key which must be signed or confirmed with Private Key owned by each user. Then pass it throughout the Network Node to update the ledger.

The cryptocurrency network confirms the transaction and this can only be done by miners by solving cryptographic puzzles. Each transaction marked then distributed across the network. Once confirmed by the miner, the data may not be revised or canceled. The workings of cryptocurrency are also based on a blockchain consensus that absolutely determines the legitimacy of balances and transactions. I have written about cryptocurrency meaning, find out: https://dcoin.id/kripto/apa-itu-cryptocurrency/

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