Sallet One: Compared with other currencies, what are the characteristics of cryptocurrencies?
is a virtual currency based on a node network and digital encryption algorithm. It comes from a developed algorithm and is not subject to personal control. Compared with other currencies, cryptocurrency is decentralized, anonymously encrypted, and cannot be tampered with.
Encrypted currency is created based on blockchain technology, so it has a complete set of self-made algorithm mechanism, which has the characteristics of decentralization. Without the help and intervention of intermediary mechanism, it can flexibly implement peer-to-peer currency circulation, and does not accept any country, institution, etc. The management and control of is a currency issuance completed spontaneously by participants.
Encrypted currency is designed based on cryptography, including hash functions and consensus algorithms, instead of using symmetric encryption or digital signatures that are easily cracked, which can ensure the security of the currency in all links of flow. After adopting cryptographic design, the transfer or payment of encrypted currency must only be allocated by the owner. Both parties of the transaction can complete the transaction in a completely unfamiliar situation. No trust confirmation is required. A series of anonymous operations can be performed with the key. Can better protect the privacy of traders.
·Cannot be tampered with
Encryption currency is a mutually verified public accounting system, all transaction records will be recorded on the blockchain, and everyone has a complete account book in their hands. This ledger can count all the accounts of each account of the encrypted currency, and can calculate the balance of any account, so no one can have the sole control. Once a cryptocurrency transaction occurs, it will be recorded in the blockchain and cannot be revoked or tampered with.
Compared with legal currency and electronic currency, cryptocurrency has lower transaction costs, faster transaction speed, and a high degree of anonymity. It has many incomparable advantages in cross-border payments. Sallet One
cold wallet supports free storage of various cryptocurrencies, such as Bitcoin, Ethereum, TEDA, etc., to protect your crypto assets.