Digital currency, commonly known as “cryptocurrency”, is a type of money that only exists in electronic format. It is a series of data using a technology known as Block Chain, which acts as a ledger and keeps track of what the cryptocurrency has been used for. Similar to currencies or paper money, digital currency is stored in a digital wallet and can be used as a traditional method for buyers and sellers to pay for the exchange of goods and / or services.
The transfer of ownership of a digital currency is maintained as a record in the blockchain, which can be tracked from user to user. There are obvious advantages to monitoring the activity of any currency, the most important advantages being the proof of ownership and the prevention and mitigation of fraud.
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The recent growth in popularity of Cryptocurrency has ushered in a new era of wealth in the technology industry. Although traditional means of generating income or accumulating wealth often involve exchanging a product or service for money or compensation, digital currency is generated completely differently.
Just as gold or silver is mined from the ground, Digital Currency uses “miners” to process thousands and thousands of calculations every minute, effectively digging through a mountain of digital rocks and dirt to locate what ends up being a complicated solution to mathematical problem.
Until recently, the ability of a technologist to generate a salary was based on creating digital applications or providing their technical skills to a company. However, with the birth of Cryptocurrency, a technologist (or even a novice user with some basic computer programming skills) can evade basic occupation and participate directly in the production of this new currency by creating of a group of ultra-powerful computers whose only goal is “my” cryptocurrency.
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The corporate world depends heavily on the skills and abilities of IT and IT professionals. However, as the popularity of virtual money continues to grow and become increasingly popular, combined with the natural skills possessed by even some of the most basic computer programmers, the corporate world may begin to see cryptocurrency as a threat.
for its commercial operations. Compared to the response to a head of a technology company, the exploitation of digital currency can be a very attractive job opportunity and therefore lead to the potential of a shortage of skilled computer programmers in the technology industry.
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