Cryptocurrencies are fiat money digitized and decentralized on blockchains

in crypto •  10 months ago 

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The first cryptocurrency, namely Bitcoin, came into existence in 2008.

The first transaction of Bitcoin is written on the blockchain, and the first block is known as the "genesis block."

The initial value of the digital assets associated with the Bitcoin blocks (say the "genesis block") comes from the real-world fiat currency.

The resources of fiat currency are digitized, encrypted, and written on distributed ledgers or cryptocurrency blockchains over a decentralized computational network.

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  ·  10 months ago  ·  

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