Participation In Grassroot Crypto Education by @jespy

in hive-139765 •  7 months ago  (edited)

Greetings to you all steemians of #steemkids community. I'm delighted to participate in this contest. In this article, I'll be explaining the following.....

° Cryptocurrency

° Examples of cryptocurrency

° One the characteristics of cryptocurrency

° And why i chose Joe's payment pattern over Jane's, in @fredquantum lesson.

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Cryptocurrency

CRYPTO: the word crypto is an acronym or short form of cryptography which means "secrete writing" that's the ability to exchange massages that can only be read and understood by the intended receiver.

CURRENCY: Currency is a system of money in general use in a particular country. Examples: USD, Naira, pound, Euro e.t.c.

CRYPTOCURRENCY: Is a virtual or digital currency which is secured by cryptography which guarantees the security of transactions and the participants without the operation from a central authority.

Examples of Cryptocurrency

1: Litecoin(LTC)

2: Bitcoin cash(BCH)

3: Zcash(ZEC)

4: Stellar lumen(XLM)

5: Cardaro(ADA)

6: Bitcoin satoshi's vision(BSV)

7: Dogecoin(DOGE)

8: monero(XMR)

One the characteristics of cryptocurrency

ANONYMOUS:

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Source

Since cryptocurrency is decentralized, users do not need to identify themselves when transacting with cryptocurrency. Cryptocurrency uses private key and public key system to authenticate transactions, this means that users can create anonymous digital identities and digital wallets to transacts on the decentralized system and still be able to securely authenticate their transactions.

Why i chose Joe's payment pattern over Jane's

Joe's choice of payment had no central authority for transactions to be made that's why his choice of payment is always successful, but unlike jane's choice which requires a central authority for transactions to be made, that's why when there is issue with the central server due to poor network or whatever, transactions always fail. So i prefer Joe's pattern of payment.

Conclusion

I believe the little basics of cryptocurrency that i shared would help us all and also contribute to the growth of the community. Thanks you all for reading through.


Cc:
@steemfitnesshub
@meymeyshops
@jespy
@mobibliss
@focusnow
@cryptokannon
@samuel20
@caleb-marvel
@fredquantum

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Thank you for your participation in this week cryptocurrency home task for kids. This class is for the kids but it's OK if you want to learn from it as well but our focus will be on the kids. We will love you to keep building your steem power and delegate to this community.

How do i contribute to the community?

Thanks, @jespy for showing interest in the lecture. Unfortunately, the homework task is for verified kids and seeing your profile, it belongs to an adult. As such the entry is invalid, you can only use the article for learning purposes. You can also proceed to the Steemit Crypto Academy and read the fixed beginners' courses to equip yourself with more knowledge about the crypto ecosystem. Your effort is not taken for granted, just that the task is meant for the kids. Thank you.

Thank you