Online Business Blog
💥Welcome to your ONLINE BUSINESS BLOG channel💥
Disclaimer: Online Business Blog channel presents and analyzes business trends and opportunities available in the market particularly innovation and technology. Contents and pieces of information are in nature and not meant for a recommendation and advice. Business and Opportunities should be considered high-risk and every viewer should be advised to do their due diligence before making any decisions.
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The world is a basket full of opportunities and potentials and it's your gut to decide what opt your gonna take or let these opt to pass by in your hand! I believed that great success starts with a decision!
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The Forex Market📈📉
The world's largest decentralized financial market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes buying, selling and exchanging currencies at current or determined prices. The foreign exchange market is the most actively traded market in the world with more than $5 trillion trading volume on average every day.
The Cryptocurrency Market!📉📈
A cryptocurrency is an independent digital currency [digital asset] designed to work as a medium of exchange that is free from any governmental control. The aim is to replace the paper currency and banks worldwide.
The first cryptocurrency was introduced in 2008 named “Bitcoin” by some unknown person named in an alias “Satoshi Nakamoto”. However, the first transaction was recorded On January 03, 2009. Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.
The decentralized control of each cryptocurrency works through a distributed ledger called Blockchain Technology which serves as a public financial transaction database.
The Blockchain Technology!👩💻🔗⛓
---from twittlink
Blockchain is a non-editable record of the data, managed on multiple computers. The more computers involve in hosting this data, the more secure cryptocurrency will be.
Blockchain is responsible for authentication and security. Every time a transaction occurs Blockchain data authenticate it. The computers involved in the data authentications get a commission from the transaction.Blockchain is a combination of Cryptography and mathematics.
What is Cryptography?
Cryptography is an art to convert the languages into codes. Earlier cryptography was used by military and intelligence agencies to communicate secretly. After the invention of the internet, cryptography was used to secure the online data and connections which is called Encryption.This encryption converts the actual data into codes to avoid unauthorized access to the data. By doing this system reduces the chances of being compromised.
How Blockchain Works?
If A wants to send money (cryptocurrency) to B there will be no direct transaction, instead, this will be sent to BlockchainThe computers connected to the blockchain data will verify if the Currency and Transaction are legit.Once validated, this transaction will become part of Blockchain data and the money will be moved from A to B.