Cryptocurrency – Future Of Currencies

We are living in the digital world and so it is time that the fiat currencies catch up with digital revolution. There have been immense developments in the digital assets like the bitcoin, ether and other cryptocurrencies. These digital assets help consumers to transact directly without any third-party intermediary like the central banks. With the invention of blockchain systems, there has been a revolution created in the field of digital transactions of currencies.

The blockchain is the latest technology for which the cryptocurrency exists where bitcoin is the famous example of it. It is nothing but a medium of exchange which uses encrypted techniques and it is fully digital.In the past attacks on the cryptocurrency, it was taken down. The attacks are made by various harmful websites or schemes which involve both the software as well as the hardware.  The solutions which were submitted worked efficiently.

In the field of automotive, the consumers can use the blockchain in order to manage the fractional ownership in the sector of autonomous cars. It can also save millions from the transaction cost and ultimately it promises to be transparent. For the business people, the technology is the next-gen improvised software which can bridge the relations between the companies.

Ethereum is expanding at a massive scale and so are its users and contributors. Ethereum which runs on a decentralized system does not have any main authority of the information in order to create applications. The community of computers are linked together and users can use what they wish. The technical problems and other vulnerability related to the corruption may decline. People build programs and contribute to Ethereum. There is no central server for it, hence there is no authority for all this. Ultimately it would pave the way to transparency. Every day, the people in the Ethereum space contributes in one way or the other. Hence the betterment of lives of the humanity is on the way in digital field.

Sheetal Kallianpur - Developer 

Senior Systems Analyst. Software Developer. She has graduated from MCA, Computers.

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