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How cryptocurrency works – In a nutshell

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How cryptocurrency works - In a nutshell

First, a cryptocurrency is a digital, decentralized, and encrypted medium of exchange. All cryptocurrencies run on blockchain technology, a distributed public ledger or database that records every transaction held by currency holders. Groups of transactions are collated to the ‘chain’ as blocks. This procedure confirms the validity of the transactions then keeps the network up and running. Every batch of the transaction then gets recorded on the shared ledger, which is public. Mining or cryptocurrency mining is the procedure to check for recent transactions, create cryptocurrency units, or add new blocks to the blockchain. For example, Pi coin is a new digital cryptocurrency generated through crypto mining.

Cryptocurrency investors hold their assets via digital addresses, with public and private keys – long strings of numbers and letters. The public keys enable the holder to receive cryptocurrency from any publicly available sender, while the private keys allow crypto to be unlocked and sent.

If you want to invest in cryptocurrencies with good returns, WRX is a profitable investment option, and the Coinmarket keeps the updated list of WRX coin prices. The most renowned cryptocurrency trading platforms are Binance.US, Coinbase, Gemini, Kraken, Bitbns, and WazirX. 

Top 10 Cryptocurrencies

There are plenty of cryptocurrencies listed today. However, some of the best for investment in 2022 are:

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  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Litecoin (LTC)
  4. Cardano (ADA)
  5. Binance Coin (BNB)
  6. Tether (USDT)
  7. Dogecoin (DOGE)
  8. USD Coin (USDC)
  9. Polkadot (DOT)
  10. Stellar (XLM)

Blockchain technology in cryptocurrency also increases trust, improves transparency, and bolsters the security of crypto data across networks.

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