Its innovative technology, decentralised ethos, and role as a digital store of value continue to drive interest and investment, solidifying its position as the cornerstone of the cryptocurrency market. Ethereum relies on a consensus mechanism called Proof of Stake (PoS), which uses validators that stake tokens on the blockchain and verify transactions before they are added to the chain. Beyond Bitcoin, thousands of alternative cryptocurrencies (altcoins) exist, each with unique features and uses. It introduced the concept of programmable blockchain, allowing for the execution of complex transactions and automation through smart contracts and enabling developers to build and deploy decentralised applications (dapps). A decentralised platform, Ethereum (ETH) was launched in 2015 by Vitalik Buterin and the Ethereum Foundation team. As the ecosystem evolves, Bitcoin’s influence and importance are likely to persist, shaping the future of digital finance.
USDC aims to provide a stable, secure, and transparent digital dollar, leveraging blockchain technology to offer the advantages of fast, low-cost transactions while maintaining price stability. Below is how each of these processes works. It is widely used in the DeFi ecosystem, for remittances, and as a stable store of value, making it a popular choice for individuals and businesses looking to leverage the benefits of cryptocurrency without the associated volatility. Learn more about USDC here. Cryptocurrencies can be bought, mined, or earned.
Staking: Involves holding and staking cryptocurrencies that use a Proof of Stake (PoS) consensus mechanism (like Ethereum). Cryptocurrency transactions involve sending assets from one wallet to another. Staking supports network operations (e.g., validating transactions) and earns stakers rewards. Participating in airdrops can be an easy way to acquire new cryptocurrencies. Airdrops: Promotional events where new projects distribute free coins to the community to build awareness and adoption. Learn more about staking and airdrops.
Cryptocurrency wallets are digital tools that allow users to store, manage, and transact with their coins. Examples include Ledger and Trezor. Hardware Wallets: Physical devices that provide offline storage for cryptocurrencies, Syria enhancing security against hacks. Examples include Exodus and Electrum. Software Wallets: Applications or programmes that can be installed on computers or smartphones, offering a balance between security and convenience. Paper Wallets: Physical printouts of public and private keys, providing a very secure method of storage but requiring careful handling.
