cryptocurrency meaning
Cryptocurrency meaning
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Price volatility has long been one of the features of the cryptocurrency market. When asset prices move quickly in either direction and the market itself is relatively thin, it can sometimes be difficult to conduct transactions as might be needed. To overcome this problem, a new type of cryptocurrency tied in value to existing currencies — ranging from the U.S. dollar, other fiats or even other cryptocurrencies — arose. These new cryptocurrency are known as stablecoins, and they can be used for a multitude of purposes due to their stability.
The very first cryptocurrency was Bitcoin. Since it is open source, it is possible for other people to use the majority of the code, make a few changes and then launch their own separate currency. Many people have done exactly this. Some of these coins are very similar to Bitcoin, with just one or two amended features (such as Litecoin), while others are very different, with varying models of security, issuance and governance. However, they all share the same moniker — every coin issued after Bitcoin is considered to be an altcoin.
China cryptocurrency
“A stablecoin’s value may, for example, be pegged to the value of a sovereign currency such as the US dollar, other crypto-assets or commodities, or supported by algorithms,” the World Economic Forum’s Digital Currency Governance Consortium White Paper Series says. “Depending on the effectiveness of the stabilization mechanism and backing, the digital currency may or may not hold a stable value relative to its reference asset.”
With the Chinese State Council embracing blockchain in its 13th Five-Year Plan, and a 30-fold increase in the total cryptocurrency market capitalization in 2017, blockchain and cryptocurrencies have become a hot topic for China’s Gen Y – second only to “bare branches” (men left over from the marriage squeeze). Both corporations and the general public are being drawn into technology they do not fully understand. Chinese policymakers are therefore eager to set the framework and standards that accelerates industry adoption of blockchain technology, while protecting and educating investors amid the nascent and unregulated cryptocurrency ecosystem.
First, blockchain can play an important role in improving food traceability, as Walmart demonstrated when it trialled an IBM-based blockchain technology to trace food origins. The net result will be a more efficient procurement system, which can cheaply record and audit the process of manufacturing and delivery of food.
“A stablecoin’s value may, for example, be pegged to the value of a sovereign currency such as the US dollar, other crypto-assets or commodities, or supported by algorithms,” the World Economic Forum’s Digital Currency Governance Consortium White Paper Series says. “Depending on the effectiveness of the stabilization mechanism and backing, the digital currency may or may not hold a stable value relative to its reference asset.”
With the Chinese State Council embracing blockchain in its 13th Five-Year Plan, and a 30-fold increase in the total cryptocurrency market capitalization in 2017, blockchain and cryptocurrencies have become a hot topic for China’s Gen Y – second only to “bare branches” (men left over from the marriage squeeze). Both corporations and the general public are being drawn into technology they do not fully understand. Chinese policymakers are therefore eager to set the framework and standards that accelerates industry adoption of blockchain technology, while protecting and educating investors amid the nascent and unregulated cryptocurrency ecosystem.
Trading cryptocurrency
This negative sentiment appears to have been broken, with a number of corporate behemoths buying up Bitcoin since 2020. In particular, business intelligence firm MicroStrategy set the pace after it bought $425 million worth of Bitcoin in August and September 2020. Since then, many others have followed suit, including EV manufacturer Tesla.
NFTs are multi-use images that are stored on a blockchain. They can be used as art, a way to share QR codes, ticketing and many more things. The first breakout use was for art, with projects like CryptoPunks and Bored Ape Yacht Club gaining large followings. We also list all of the top NFT collections available, including the related NFT coins and tokens.. We collect latest sale and transaction data, plus upcoming NFT collection launches onchain. NFTs are a new and innovative part of the crypto ecosystem that have the potential to change and update many business models for the Web 3 world.
The very first cryptocurrency was Bitcoin. Since it is open source, it is possible for other people to use the majority of the code, make a few changes and then launch their own separate currency. Many people have done exactly this. Some of these coins are very similar to Bitcoin, with just one or two amended features (such as Litecoin), while others are very different, with varying models of security, issuance and governance. However, they all share the same moniker — every coin issued after Bitcoin is considered to be an altcoin.
