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Cryptocurrency - Coggle Diagram
Cryptocurrency
Usage
Low-cost money transfers
Earn interest on Bitcoin and other cryptocurrencies with 'Yield Farming'
Invest in innovative early-stage startups
Make private transactions
Get paid to post content
Transaction in Blockchain
Transaction is created by the sender using the wallet address of receiver
Sign a transaction(digital signature Kr)
Transaction is sent to the memory pool
Transaction is accepted, grouped into block, assign a hash value to the block
Transaction blocks becomes the part of blockchain
Altcoin
(alternative coins)
Binance Coin (BNB)
Cardano (ADA)
Solana (SOL)
Dogecoin (DOGE)
UTXO
(Unspent Transaction Output)
Language Agnostic Smart Contracts
Support for Decentralized Exchanges and Atomic Swap
Scalability Benefits
Prevents Double Spending
cryptocurrency wallet
Hot Wallet
online wallet eg coinbase wallet
Cold Wallet
paper wallet
physical bitcoin
hardware wallet
Bitcoin