It is well known that “necessity is the mother of Invention.” As world moves towards the cyber era everything which we ever imagined of in 19’s are a part of our daily life style. The Economy boost gave us new ways to spend, earn and live a better life. But still there a many questions around us need to be tackled by us. We need to think whether the money we have has a future or not. It could happen someday that economy melts down or deflation sweeps away everything……
Future of currency
Now it’s time to think bigger and better. Fiat currency which has been used for years has now more drawbacks than its merits. Banking system support these fiat currency because it helps them earn millions, as tonnes of transaction and accounts are being open every single second. Transactions with these banks take more than 2 or 3 days, when done internationally. More over on the name of security bank frauds are quite frequent these days. Fiat currency is controlled by the central agencies or the other way it is centralised. Thus the government can print money according to its need creating danger of your money. Thus this world needs a revolutionary change in the form of Bitcoins.
Revolution at your door step
A revolutionary step by mathematical algorithm of Satoshi Nakamoto gave a concept of a virtual currency which is free of all the flaws of fiat currency came to be known as crypto currency. Further U.S NATIONAL SECURITY AGENCY with the help of a cryptographic function SHA-256, designed by them gave birth to BITCOIN. This dynamic virtual currency is first of all the cryptocurrency followed by Altcoins (those virtual currencies which came after bitcoins). Namecoin was the first altcoin to be launched in 2011 followed by litecoin and ripplecoin etc. Today there are more than 300 coins working perfectly as substitute of fiat currency all over the world.