“Crypto-currency” Today this word fascinates us in a way that everybody is talking about investing in it or planning to buy a good amount of crypto-currency (crypto) hoping that the price will soon rise enormously, which is not an entirely wrong notion, looking at the statistics of the last couple of year’s development in the crypto market. The Crypto market has risen enormously from 2008 to 2022. It can be seen as a short period but it also gives us opportunities to study crypto and its market in some ways.

What are crypto-currencies?

The word Crypto-currency is made up of two words, crypto and currency. The word crypto means secrete because it completely hides the identity of the person who is making the transaction, everything is stored in codes, and currency as we all know is a medium of exchanging goods and services.


Unlike other currencies, like gold, silver, dollar, rupee, etc. crypto-currencies are 100% virtual or digital currency that is secured by cryptography which is a secure communication technique. Crypto-currencies are not regulated by the government or by any kind of bank, which makes them free from the government’s monopoly. Crypto-currencies are regulated by the people who are using them. It gives immunity to transfer money to any person irrespective of his or her location on the globe in just a fraction of seconds without government interference in any kind of crypto transaction. Transactions of crypto are recorded in a public ledger available on millions of computers around the world.

What is block-chain?

Block-chain is a secured type of ledger. Block-chain is just a way of organizing every transaction into “blocks” so whenever a person pays for something with crypto that transaction will likely be recorded as a block. Each block contains transaction data like who is paying whom, how much a person is paying, a “hash” which is a unique identifier, and details of the last transition. If a block has tampered then its hash will also change. Now here comes the advance part because each block contains previous information of transfer so if the hash of one block has been tampered then it will become invalid to the next block in the series and we also know that the ledger is not only stored in one computer it is stored in millions of computers. So, it became kind of impossible to temper crypto-currency.

By Elora