how does cryptocurrency work

 how does cryptocurrency work.Cryptocurrency is based on Blockchain technology, which is simply a public and distributed ledger in which all financial transactions are stored.  Blockchain is a secure and efficient technology because it uses a distributed system that is run by a network of computers, which makes it difficult to hack.

 The process of creating a cryptocurrency begins with creating a program called a "wallet", which allows people to send and receive cryptocurrencies to and from this wallet.  A new cryptocurrency is then created by defining a set of rules that determine how the currency is issued and distributed.  Some cryptocurrencies are issued by mining, which is the mathematical process used primarily to create cryptocurrencies and validate operations.

 All financial transactions are saved in a Block Chain, which is a collection of previously confirmed transactions.  Each new block is generated after the previous block has been confirmed, thus creating a chain of blocks that is constantly updated.  Transactions in the blockchain are validated using a technique called cryptography, where transactions are encrypted before they are added to the chain.

 Once the cryptocurrency is added to the chain, it is stored in the user's e-wallet, and they can use it for payments, exchange it with others, or do anything with it.  Cryptocurrencies can also be traded on various trading platforms, where they are exchanged at different prices based on supply and demand.

 In this way, the process of creating and trading cryptocurrencies takes place, and this technology is a very reliable and safe way to exchange money online.

The technology of sending and receiving digital currencies

The process of transferring cryptocurrencies from one person to another takes place in a digital and direct manner, and this is done by using the addresses of the digital wallets of the sender and receiver.

 When a person wants to transfer a cryptocurrency to another person, his digital wallet address, the recipient s wallet address, and the amount to be transferred are entered into the cryptocurrency trading platform used. The cryptocurrency is then sent from the sender s wallet to the recipient s wallet via the blockchain network, and the transfer takes place within a few minutes or seconds.

 The correctness of the process and the correctness of the information entered is confirmed by the existing decentralized network, which ensures that the funds sent reach the recipient in a safe and reliable manner. All financial transactions are recorded in the blockchain, making it a transparent and tamper-proof process.