The prime reason behind the conception of cryptocurrency was to form a secure and anonymous method to send digital currency from one entity to another. And since then, it’s been applauded as ‘digital gold.’ To promote the anonymity factor, Satoshi Nakamoto planned on developing something new, that’s when Blockchain, the digital ledger of Bitcoin transactions-the underlying concept of these cryptocurrencies- was created.
As a leading software development company working with clients for their cryptocurrency projects, we have experienced the surge in market gain and interest. And thus, we think that cryptocurrency development services can enhance and intensify the use of cryptocurrency. Following is one of many instances where we see software development and cryptocurrency can work together.
Over the past few years, the term Cryptocurrency has gained rapid significance in the public eye. It is unlikely that you are not familiar with Bitcoin, Litecoin, and Ether.
In reality, there are currently more than 1600 cryptocurrencies operating in the digital space. Some of them are:
Before diving deep into cryptocurrency development services, let’s take a gander at this brief definition of cryptocurrency.
A cryptocurrency is created and managed using the advanced form of encryption techniques called cryptography.
Cryptocurrency is your virtual money mainly designed to address these motives:
Now, let’s understand the benefits of developing a cryptocurrency:
Banks and central authorities can anytime tap every individual’s data whenever they wish, without a person’s permission.
Today, we are residing in a world where there’s no respect is found for our privacy. But in cryptocurrency, the digital transaction process can be done on the push basis. So, if you don’t want your privacy to be revealed in the transaction process, cryptocurrency allows this ability.
Indeed, you get complete control over your data. The bottom line is cryptocurrency retains your online freedom and privacy.
When making an international transaction through banking or any other mediums, it gets influenced by factors like exchange rates, transaction charges, and interest rates imposed by a particular country.
But with cryptocurrency, that transaction can be executed using peer to peer networking. Other catalysts like currency exchange fluctuation don’t impact the trade.
Usually, there’s no fee charged for cryptocurrency based exchanges as the miners get compensation. Although there’s no crypto exchange fee, most users resort to engage a third-party service, like Coinbase, to maintain their wallets. These services are run like Paypal is for cash or credit card users. And thus, they charge fees.
Oodles Blockchain by Oodles Technologies is an aim to deliver the best cryptocurrency development services in the crypto domain. Not only we lead as a top blockchain development company but also excel in providing world-class custom cryptocurrency development solutions to meet your requirements. If you are also looking for the top cryptocurrency development company, contact us for a free of cost crypto expert consultation and know how we can help you.
A cryptocurrency can be used for a number of things that open a myriad of new opportunities. A crypto exchange/trading platform can be developed for exchanging cryptocurrencies. A cryptocurrency wallet (Hot/Cold) can be developed to store your crypto coins (altcoins). An ICO platform can be launched based on a cryptocurrency and the traditional way of crowdfunding can be avoided. Similarly, there are numerous ways a cryptocurrency can be developed.