Building a more secure financial world

          Cryptocurrency                       -Transforming Transactions

    Imagine a financial world full of most rapid and secured ways of transactions, wherein you get all the value of your money in most secured way. The one through which transactions could never be imagined to be performed. But it is said that "Imagination can be transformed into reality at anytime", hopefully that's true. So some of you might heard about Digital currency most effectively a type of electric currency exchanging.We all are familiar with net banking, online transactions by the mean of E-Wallets and multiple ways of transferring your money from one place to another. Let us have a look at this transforming invention.

Digital Money

Before we begin let's see what does cryptography actually means:

Cryptography is a way of most secure communication so that the information must not get leaked to the third party who tries to gain access of your private information.Thus the very popular concept of worldwide transaction was born.It is a type of money or digital asset used for secured transactions and exchange.These can be considered as another optional way to digital currency by the mode of virtual finance.

You might have heard about Bitcoins the very first virtual money which revolutionized our financial world and occupied entire modification in the thinking of people. We all are moving towards digitization, from investment to earnings, from receiving money to transferring money from one corner to another. This is possible only because of E-Currency. It is actually designed as the mode of interchanging information, which is the actual purpose as well.

Virtual rise(Expected)

It uses a cryptographic mechanism for the purpose of security and anti-counterfeiting measures.Since cryptocurrency is not bounded by any country it cannot be controlled by any banks the one such as RBI or Federal Bank or any other international ones. The value of bitcoin and other cryptography based coins changes many a times per day, though profit and loss is decided. Generally the value is decided by market requirement, supply chain and demand.

Gavin Andreson, technical head of Bitcoin, during a talk with forbes.com told that this concept of cryptocurrency, especially Bitcoins was developed to bring back the decentralized money of the people. Hence if someone wants to perform transactions using bitcoins, they must be cryptographically signed each time they're transferred during transactions, during it each bitcoin user has individual keys one of public and other one as an individual keys. The transactions done by the bitcoin user are anonymous, cannot be tracked and fairly impossible for illegal transactions and fund transfer. For an Illegal transaction let us consider a transaction for drug trafficking, which is next to impossible as cryptocurrency doesn't have any central repository and the main fact is that certain law enforcements, commandants and other authorities have no jurisdiction over bitcoins account and hence includance of primary strengths of it's use.

According to researchers in MIT, Bitcoin is really an effective virtual medium of exchange and it can be really a great alternative to government issued money if it survives. In the prior 2009, when Bitcoins were released it really seemed to be great way for the people to trade in a most secure, low cost and private encrypted fashion. There is a Bitcoin network handle named as Satoshi Nakamoto  used a decentralized peer-to-peer system to verify transactions, thus meaning that people can do transactions electronically and anonymously without depending on third parties like banks or agents result in less transaction time, more security and enhancement which include global trading as well.
Cryptocurrency although is very advantageous for the people since it saves the transaction charges that banks takes, provides security more than any other resource of transaction. Actually bitcoins must be seen like money but nowadays they became the source of investment, providing multiple benefits and anonymity. With normal currencies, there is a limit of expense. Since people still need to eat, pay their bills, and so on, and to do so they need to use their currency. But these things aren’t true about bitcoins.
So imagine the world wherein, there's only one currency for all trade and exchange, but in much more secured way without any inconvenience. Although certain policies must be developed to prevent illegal transactions and let the world be come closer financially. Let's move towards Bitcoin...Let's move towards cryptocurrency. Let's transact using Bitcoins.

    "Bitcoin is a remarkable cryptographic  achievement and the ability to create  something that isn't duplicable in the digital world  having enormous value."