Crypto Currency

Table of Contents☰

About Crypto Currency:

After the U.S. and Turkey, India has the third highest number of registered downloads of crypto exchange apps.
As of June 2022, there were over 30 million crypto exchange app downloads in India.
But in terms of downloads per capita, India features among the countries with the lowest number of downloads.
This is because of its vast population and crypto awareness being mostly limited to urban pockets.
Countries such as the U.S., Canada, Australia and the U.K. rank much higher in terms of per capita downloads.
India also features among those countries with the lowest average monthly app usage per 1 lakh people.
According to the study 73%-81% of the users would have lost money. A median investor would have lost $431, corresponding to 48% of the total $900 invested.

Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds.
These currencies operate independently of a central bank.
The economic transactions underlying cryptocurrency are decentralized, distributed and disbursed.
The first and most famous cryptocurrency, bitcoin was introduced in 2009.

Most cryptocurrencies of the world are built on blockchain technology.
Blockchain is a decentralized and distributed database on a peer-peer network which works on the basis of a consensus mechanism involving every node (computer) on the network.
Blockchain is a peer-to-peer distributed network that records a public history of transactions without actually recording identities of the parties or the transaction details.