A Cryptocurrency is a digital entity that works as a medium of exchange and facilitates secure transactions using cryptography. Also known as digital currencies or virtual currencies, these digital coins have taken the world by storm. It all started in 2009 when Satoshi Nakamoto introduced Bitcoin to the world. Being the world’s first cryptocurrency, Bitcoin emerged as the most successful decentralized payment method. The success of Bitcoin paved new ways for the cryptocurrencies to emerge. As a matter of fact, hundreds of new cryptocurrencies have been created over the years and new ones keep coming every now and then. Some examples are Litecoin, Ripple, Dash, Monero and Ether.
Most of these digital currencies are the hard fork clones of Bitcoin which have been derived from the original Bitcoin source code provided by Satoshi Nakamoto. These cryptocurrencies are also known as Altcoins or Bitcoin clones. Some examples of Altcoins are Litecoin, Dash, Ripple and Dogecoin while there are some cryptocurrencies like Ether which have their own blockchain platform.
Blockchain forms the backbone of the cryptocurrency landscape. Be it Bitcoin, Litecoin or any other cryptocurrency, Blockchain provides the requisite fuel for it to run and operate. All the transactions pertaining to a cryptocurrency are stored in blockchain. At its core, Blockchain happens to be a digital ledger that stores transactions in a series of blocks. All these blocks are electronically chained and are secured by the most advanced form of cryptography.
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Oodles Technologies is a leading Blockchain Development Company with vast experience in Cryptocurrency Development. We provide custom-made Cryptocurrency Development Solutions to meet the requirements of our clients. With over 3 years of experience, we have carved our niche in the Cryptocurrency landscape.