Why do we need cryptocurrency in the market?

When we talk about digital currency in public most of them think it doesn't sound tangible and do not agree with the proposal of a digital currency. Let's talk about our good exchange system from ancient times. Thousands of years ago the goods was exchanged through the barter system it is simply an exchange of good with other good for e.g, If I need a sugar bag I simply exchange a wheat bag to another person who has sugar bag, but the problem is it was difficult to find the person has what you needs. So, considering this problem a physical element was taken into account to exchange things - gold coins. later when the world war started the government needed more authorising power over money to provide weapons for the military so, they centralised all the money.

Centralised- the government has the authority to print as much money as they want.

But this causes a major impact on inflation.

I will explain to you how you all know a fact called demand and supply. When the demand increases the price will also increase. The same scenario applies to money. If money is abundant in the market the value of money decreases. This is the reason why inflation rates in India are increasing 6.5•/• from 2014. All the regulating bodies all over the world conduct this procedure.

Cryptocurrency is the distributed and digital currency that visualises the user to access the transaction all over the world. There are no commands of any authority to control it because of its secure protocol called a blockchain.

Blockchain is a secure pattern, stores all the information in the block. No one can manipulate the pattern. Let us understand more deeply.

• Monica wants to do a transaction
• Monica has done transactions through crypto.
• No charges are payable to any bank or authority
• The transactions are saved in an H1 block. Information includes- signature, amount of transaction, time.
• All the blocks are connected if anything insignificant is found in the H1 block then the link between them does not form.