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Episode 3: Types of Crytocurrencies explained Welcome back to the CMG-auraspace crypto Academy. Today we will explore the different types of cryptocurrencies and what makes each unique. First up is Bitcoin - the original and most widely recognized cryptocurrency. It is often referred to as 'digital gold' because of its limited supply and store-of-value nature. Next, we have Ethereum which is more than just a cryptocurrency. It is a platform that allows developers to create Decentralized Applications or dApps - using Smart Contracts. There are thousands of other cryptocurrencies out there called Altcoins. Some focus on privacy while others like Stablecoins aim to maintain a consistent value, making them useful for everyday transactions. Now that you know the different types of cryptocurrencies, stay tuned for our next lesson on how to get started with Crypto. See you soon
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Episode 2: How does Crypto / Blockchain Actually Work? Welcome back to the CMG-auraspace Crypto Academy. In this lesson, we are going to explore how cryptocurrency actually works. Cryptocurrencies run on something called Blockchain Technology. A Blockchain is a Decentralized network of computers that work together to verify and record transactions. Think of it like a digital Ledger where every transaction is recorded and confirmed by multiple participants. When someone sends cryptocurrency, the transaction is grouped into a block which is then verified by computers called nodes on the network. Once verified, the block is added to the chain making the transaction permanent and unchangeable. Unlike traditional banking which relies on a central Authority like a bank, Cryptocurrency relies on Decentralization. This makes it harder to hack or manipulate because no single entity controls the network. That's a quick overview of how cryptocurrency works. Next time we will dive into the different types of cryptocurrencies you can use. Don't forget to like for more lessons bye for now.
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Episode 1: Welcome to the CMG Crypto Academy This marks the beginning of a complete series designed to help you master the world of Cryptocurrency. Whether you are a total beginner or looking to sharpen your skills this series is for you. Cryptocurrency is transforming the way we think about money. It is not just about Bitcoin it's about the future of Finance. By understanding Cryptocurrency you gain access to a world of opportunities, global transactions without borders, Decentralized finance and the potential to grow your Investments. Learning now prepares you for the digital economy of tomorrow. So let's dive into the basics. What exactly is Cryptocurrency? Let's break it down... Cryptocurrency is a form of digital or virtual currency. Unlike a physical money, like dollars or Euros, Cryptocurrency only exists online and uses encryption techniques to secure transactions. But it is not just digital cash, Cryptocurrency operates on a Decentralized network. This means no banks or governments control it. Instead, it is powered by Blockchain technology - a system that records and verifies every transaction. Cryptocurrency is important because it gives people more control over their money, offers lower transaction fees and can be accessed everywhere with an internet connection. It also opens up new possibilities for Decentralized finance. Bitcoin is the most well-known Cryptocurrency often called "digital gold" but it is not alone. There are thousands of others like Ethereum which powers Decentralized Apps and stablecoins that aim to keep a steady value. That is a quick look at what is Cryptocurrency. In the next lesson we will take a closer look at how Cryptocurrency actually works. Don't forget to like and I'll see you in the next lesson. Bye for now @Connie Agyei
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