A cryptocurrency is a medium of exchange of digital information having monetary value. They are fully decentralized yet their transactions and supply into the system are secured by cryptography. Another interesting thing about cryptocurrencies is that they have a fixed supply. Hence most of them are designed to decrease in production over time and this creates a market cap on them.
For example, the total number of Bitcoin that will ever be available is 21 million. The technological system known as blockchain on which all cryptocurrencies are based was first introduced by the creator of Bitcoin Satoshi Nakamoto.
All cryptocurrencies are maintained and managed by a community of miners which refers to the cluster of sophisticated computing devices or ASIC machines or to the people or groups operating them. The miners participate in the process of validation and processing of the cryptocurrency transactions. They are an integral part of the blockchain.
Cryptocurrency mining results in the verification of any transaction and generation of new cryptocurrencies into the system. The generation of new cryptocurrency is known as block reward which is the reward that is given to the miners for their effort towards the verification of the transactions taking place in the cryptocurrency network.
Mining is an energy-intensive process in which the sophisticated hardware devices make use of computational power to solve complex mathematical problems that further results in the solving of a block.
The blocks are a file that permanently records the data pertaining to a particular cryptocurrency. It is similar to the page of a ledger. Every time a block is verified and validated, it gives way to a new block.
Today, women play a vital role in the world of Cryptocurrency, please check the following infographic to get detailed information on Women in Cryptocurrency. This infographic was developed by our friends at MrBTC.org, and it speaks about the top 8 women in Cryptocurrency. The Top 8 Women Include,
- Joyce Kim
- Perianne Boring
- Amber Baldet
- Jinglan Wang
- Jen Greyson
- Fahima Anwar
- Meltem Demirors
- Raine Revere