What is this crytocurrency that everybody is talking about? In simple words, it is digital currency in encrypted form. Money transaction is processed and validated through data mining. As of now, using crypto currency is a very complex process. Still, it is becoming popular in recent times worldwide.

Here, money transaction is carried out between two parties only.Hence there is no third party involvement. After validation and processing through data mining,it is kept in public ledgers but the transactions are kept confidential.Once a transaction is validated, miners get this crypto currency as reward.

Litecoin, Bitcoin, Ethereum ,Pipple are some examples of cryptocurrency. Out of this, Bit coin is the most popular crypto currency.

Cryptocurrency works on Block Chain Technology, which is a decentralised technology spread across many computers that manages and records transactions.

There are more than 4000 cryptos worldwide as of now. It’s users are called miners. This virtual currency is exchanged over the internet and uses cryptography as a means of security. There is no central authority to manage this system and it is immune to government interference.It is highly confidential and totally decentralised person to person payment method. All the transactions and accounts can be traced but the owner accounts are usually not easily traceable.

International money transfer can also be done through crypto. As it is becoming popular nowadays, it’s value is getting increased. Some people even use it for investment purposes. A large number of individuals and businesses have started using this. Many online websites also accept virtual currencies as payment.

Bitcoin is a premier crytocurrency created by Satoshi Nakatomo on 31 st October, 2008. It is pseudonomous and is controlled by users called bitcoin miners. These miners use different computer program and resources to solve highly complicated mathematics problems and get a number of bitcoins in exchange. They do this by verifying transactions and adding them to a public ledger called Blockchain. It holds the transaction history of all bitcoins in circulation. These miners keep the network secure and ensure that all systems are synchronized together. Those miners who help to accurately track the transactions and maintain network are rewarded with cryptos.

Ripple or XRP is an open source digital payment platform. Here money can be transferred in actual currency or cryptocurrency. XRP is used as a bridge currency to settle cross border payment in a faster and cheaper manner.

The cryptocurrency has neither been made legal nor banned. In India, they are not in use legally. Experts are advising on shutting down its trading. Likewise, other major countries are thinking of banning cryptocurrencies. So we have to wait and watch if the crypto will become the future of transactions or goes away for good.

Good and Bad effects of competition in Life

Winner Winner Confidence booster!

Get set go!! What do you make of that? If you think its competition, you are absolutely right! In Today’s fast moving life,this phrase makes sense most of the time in every field. Yes, competition,the act of trying tobwin or gain something by defeating others, is the policy we bear in mind in completing any task how much ever minute it may be.

One of the main advantages of competition is, it provides purpose and firmness to the mind. It gives us an impetus to pursue our goal, despite the difficulties that comes along the way. Here, ego also plays a major part as losing means one is inferior to the other. This might help in increasing confidence level. If its a challenge, why not gain the pleasure by surmounting it?

Even for a trifle task, one thinks that he must be the first one to finish it, thereby forcing each one to give their level best into it, yielding a better result altogether. This trait can be observed in children too. They try to compete in any task given to them and feel very good about themselves once they finish it. This simple instance shows the infuence of competition.

Now-a-days, children are very witty, which increases the level of competition.With numerous opportunities and resources come greater competition. This can be observed in various competitive exams. The cut off marks are such that, by a point difference people lose.This induces more stress in people which might be positive or negative, depending on each individual and circumtances.

Competition provides the opportunity to select the best among the bests. It is the best way to analyze ourselves and keep a track of where we stand among our peers. It also gives us chance to improve ourselves and achieve better when the next opportunity knocks our doors.

The monthly or annual exams students face is a trailor to the future competitions we might encounter. Many children as well as adults bear the opinion that exams are unnecessary and irrelevant. On the contrary, without a definite reason, it is highly unlikely that people learn what is to be learnt.

The importance of competition is such that we must always engage in improving ourselves to be on par with the bustling world. Only when we compare and compete with people, our areas of strength and weakness is revealed to us. This is help in finding direction to move forward in life.

Coming to the disadvantages, it depends on one’s mentality and view point. If one is pessimistic, the idea of competition might be discouraging to him. Whereas, if he is optimistic and ready to take on challenges, it might actually help in pushing oneself to improvise on all levels. The reality stands that competition is everywhere. One can either moan about or make the best out of it.

In conclusion, one musy always try to have healty competition in mind. Especially in this competitive world, competition is a must and the one conpeting with full determination will be the winner of the competition called life.