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Some things every enthusiast should know !
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Earlier cryptography was effectively synonymous with encryption but nowadays cryptography is mainly based on mathematical theory and computer science practice.

With cryptocurrency, the transaction cost is low to nothing at all—unlike, for example, the fee for transferring money from a digital wallet to a bank account. You can make transactions at any time of the day or night, and there are no limits on purchases and withdrawals. And anyone is free to use cryptocurrency, unlike setting up a bank account, which requires documentation and other paperwork.

International cryptocurrency transactions are faster than wire transfers too. Wire transfers take about half a day for the money to be moved from one place to another. With cryptocurrencies, transactions take only a matter of minutes or even seconds.

NFTs can be created on other blockchain platforms that support smart contracts. For example, NEO, EOS, and TRON support NFT standards. Each NFT carries detailed attributes like the owner's identity and rich metadata that helps determine digital ownership of an asset.⁠

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NFTs make the tokenization of both digital and real-world assets possible. They could also be used in issuing certificates such as birth or death certificates and software licenses in the future.

Those who indulge in day trading employ intraday strategies to earn profits from the volatile market. A lot of techniques are used to earn from intraday trading. Day trading is a strategy that revolves around the opening and closing positions several times during a single day. Now that we have a clearer picture as to what exactly is day trading, let’s jump straight into what are the top 5 cryptocurrencies that are best for crypto day trading.⁠

Tokens like ethereum, have a constant flow of new assets added to the ecosystem, which makes them inflationary. Bitcoin, litecoin, etc are limited in number and are deflationary by nature, as a result only "X" number of coin can be mined or in circulation at any given time.

The supply of a particular cryptocurrency refers to the total number of coins in circulation. The three essential terms related to supply are "total supply", "fixed supply" and "circulating supply".

Blocks are files where data pertaining to the Bitcoin network are permanently recorded. A block records some or all of the most recent Bitcoin transactions that have not yet entered any prior blocks. Thus, a block is like a page of a ledger or record book.

A consensus algorithm is a procedure through which all the peers of the Blockchain network reach a common agreement about the present state of the distributed ledger. Essentially, the consensus protocol makes sure that every new block that is added to the Blockchain is the one and only version of the truth that is agreed upon by all the nodes in the Blockchain.

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A nonce is an abbreviation for "number only used once," which is a number added to a hashed—or encrypted—block in a blockchain that, when rehashed, meets the difficulty level restrictions. Nonces are used for a range of computer networking applications, including authentication for purchases, two-factor authentication or other kinds of account recovery and identity applications, electronic signatures, data encryption, and more.

Hash is a function that converts an input of letters and numbers into an encrypted output of a fixed length. A hash is created using an algorithm and is essential to blockchain management in cryptocurrency. Hashes are of a fixed length since it makes it nearly impossible to guess the length of the hash if someone was trying to crack the blockchain.

Miners validate new transactions and record them on the global ledger. On average, a block is mined every 10 minutes. Miners compete to solve a difficult mathematical problem based on a cryptographic hash algorithm. The solution found is called the Proof-Of-Work. This proof proves that a miner did spend a lot of time and resources to solve the problem.

In the Bitcoin network, nodes fulfill a very important role. You can imagine them as ‘guardians’, who are constantly monitoring the Bitcoin blockchain to distinguish legitimate Bitcoin transactions from non-legitimate ones. Their basic job is to prevent attempts to double-spend bitcoins that have already been spent elsewhere.

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Ever wondered what are the legal issues with trading in Cryptocurrency? Know before you trade.

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Blockchain is the technology that enables the existence of cryptocurrency, it's the backbone of cryptocurrency !

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