It also ensures that the calculation of digital currency
Cryptocurreny, let not make a loud noise and reduce it to a simple definition, Crypto currency is a digital asset designed as a medium of exchange with the help of cryptography to secure transaction and give financial freedom. To understand the basic concept of Crypto Currency you have to learn about Public Ledgers, Transactions and Mining. Public Ledgers is the process of keeping the identities of their coin owners encrypted, and for this system uses other cryptographic technique to ensure the legitimacy of maintaining or keeping the record properly. It also ensures that the calculation of digital currency should remain correct and accurate spendable balance. Whenever there is a transaction in between any of the two digital wallets then we call the fund transfer process as transaction. This process uses encrypted electronic signature to provide a proof that the transaction is done or coming from the owner wallet. The confirmation process takes a bit of time. Mining is a term used for confirming that the transaction of crypto money has been done successfully. The mining process is what gives value to the coins and is known as a proof of work system.
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