Unli Business Talk with Bong Feniza 01-09-22
Ito ang broad streamcast on that day. While making their respective light bookings, Daniel's transaction failed and he missed the offer going on. On the other hand, Frank paid his share very quickly and easily and it became one of the three lucky draw winners. Daniel was and asked Frank how he could make the transaction when Daniel himself could not.
To which his response was, it's simple. I used Bitcoin, a type of Cryptocurrency. Daniel was confused and he asked what Cryptocurrency is and since when has it been in use? Frank stepped up and explained to him. Cryptocurrency is a virtual or digital currency that works on blockchain technology. And is designed to work as a medium of exchange online to buy goods and services and make payments. Which was introduced to the world first in 2013. By Satoshi
Nakamoto. Daniel felt that it sounds similar to other online payment options. Yes, what makes it so different? Frank explained. Cryptocurrency is
decentralized and free from any third party interference. Which means it is not issued and controlled by any government or central authority. Unlike other payment systems that banks or governments are handling. And
that's why a cryptocurrency transaction never fails. There could be many reasons for why Daniel's transaction failed like he may have exceeded his transfer limit. For his account have been hacked. Or there
could have been some technical issue with his bank server. Or maybe due to high transaction fees imposed by the bank. But on the other hand, Cryptocurrency charges almost no or very low transaction cost. There is no limit for making transactions. In fact,
you have 24/ 7 access to your money. There is no extra delay or extra charges on making international transactions. And the best part is, that anybody can use Cryptocurrency without the hassles of paper All you need to do is create an account on any digital wallet of Cryptocurrency. This is what
makes Cryptocurrency different from other online payment options. Daniel was impressed by Cryptocurrency. But he wondered how it works without the control of an external authority. Upon research, he found out that. Cryptocurrency
works on blockchain technology. Blockchain is a set of blocks that record information of transactions. Like who made the transaction to whom, the amount of trade in the form of a digital ledger that is distributed across the entire network. Meaning, the data's
rep and stored on each node across the entire block chain network. Making it more secure and impossible to change, hack, or cheat the system. Then it is verified and validated by every node to proceed with the process of making the transactions. The Crypto and Cryptocurrency stands for cryptography. Which is a method of using encryption and encryption to secure the data in the presence of any third party with ulterior motives. Now Daniel was completely aware of the whole technology concept behind Cryptocurrency. And was
influenced by Frank to adopt Cryptocurrency in his daily lifestyle too. He did that by booking his ticket. But sadly, no discount. Like Daniel, Cryptocurrency has influenced and impacted an enormous number of people worldwide. Due to this increasing popularity, new companies like Metu and PayPal are coming forward in investing in Cryptocurrency everyday. In
2018, Malta, an island located in the Mediterranean Sea, of Italy was titled Blockchain Island. As it led to the economic stability of the nation. Many fintech companies like Binance and OKX have already begun to take advantage of Malta's financial incentives and have moved their headquarters to the blockchain island. So, here is a question for you. Which hashing
algorithm does Cryptocurrency use? A, script. B, Esh. C, SHA two fifty-six, D, none of the above Please give it a thought and drop your answers in the comment section below. Three lucky winners will receive Amazon gift vouchers. Okay. Ayan. Kai bano ah yung napanod
po natin ng video mga at Cryptocurrency. Well Cryptocurrency
2022-01-10 13:40
