On which technology does Cryptocurrency work, why is it passing, know further about it then
Blockchain technology news: There’s a lot of news coming about Cryptocurrency. Numerous controllers including RBI are talking about banning it, while on the other hand, they’re also praising the technology related to cryptocurrency i.e. Blockchain.
There’s a lot of news coming about Cryptocurrency. Numerous controllers including RBI are talking about banning it, while on the other hand, they’re also praising the technology related to cryptocurrency i.e. Blockchain. After all, what’s so special about this technology, that there’s talk of encouraging its use. Let us tell you that there’s neither any restriction nor any regulation system regarding the use of cryptocurrency in India.
What’s Blockchain technology
According to experts, documents can be secured digitally by blockchain technology. Moreover, it can not be tampered with or modified in any way by any other person. According to CA Manish Kumar Gupta, blockchain is such a technology that along with creating the digital currency, anything can be made digital and its record can be kept. It’s a kind of digital ray.
What’s Bitcoin, Ether Cryptocurrency
Bitcoin, Ether is a private cryptocurrency, which isn’t controlled by any controller. Moreover, these currencies can be called digital mediums. A medium through which buying and selling can take place. According to Manish Gupta, it isn’t correct to name its currency as it doesn’t have any endless value.
Advantage of Blockchain Technology
RBI believes that Blockchain technology can be used to make the banking sector network more secure. By using blockchain technology, pitfalls like garçon hacking, identity theft can be avoided. This technology can also help with pall storehouse. Digitization of government lines is also being done in India using this technology.
Meanwhile, Paytm’s author Vijay Shekhar Sharma has spoken about maintaining the cryptocurrency despite its expostulations. According to him, this virtual currency is going to remain. While addressing an online event of the assiduity body Indian Chamber of Commerce (ICC), Sharma said that cryptocurrencies are currency grounded on cryptography, a study of secure communication technologies.
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