If you want to know more about crypto, follow along. Together with the developers of Merkeleon cryptocurrency exchange software, we’ve prepared answers to the most asked questions.
Cryptocurrency is created on a computer network; it is encrypted and thus protected from forgery. Crypto is not backed by fiat or state systems, which means exchange rates are regulated only by supply and demand in the market.
According to CoinMarketCap as of early 2023, there are about 22,000 cryptocurrencies with the total market cap of $850 billion. The most famous are bitcoin, ether, ripple, litecoin, dash, monero, XRP, etc.
Users are attracted by the transparency of transactions, their anonymity and security. It results from a special cryptographic encryption, where each subsequent block contains information about the preceding one. The database is updated automatically on all connected devices.
First off, there are many states where crypto serves as legal tender: El Salvador, Switzerland, Türkiye, Slovenia, Germany, Japan, Canada, and so on. Governments and central banks prohibiting crypto do not want to lose power and monopoly over the circulation of money.
The underlying technology is revolutionary, and therefore hard to grasp for most people, even for many IT specialists. It is a program code that can exist by itself and no one can control it. Field experts have been struggling to implement these ideas for decades, and it will take some time for us to get it.
The influence of the cryptocurrency world should not be taken for granted. This technology is not merely about trading. Potentially, blockchain can be used to securely verify documents and keep medical cards. And now is the best time to get acquainted with this innovation.
