What is a Crypto Currency?
Cryptocurrency is the from of digital assets based on a network that is distributed across a large number of computers. It is secured cryptography that cannot be counterfeited or doubled in cost. Many companies have issued their own currency, often referred to as tokens, which can be traded specifically for the good or services provided by the trading company. Think of them as coding codes or casino chips. You will need to exchange real money for cryptocurrencies to get good or service. Most cryptocurrency are decentralized networks based on blockchain technology and a distributed ledger activated by a computer network. Part of the attraction of this technology is its security.
What Is Crypto Currency in Simple Words?
Cryptocurrency are systems that allow for secure payments online which are denominated in terms of virtual “tokens.”
Advantages and Disadvantages of CryptoCurrency ?
CryptoCurrency allow you to transfer money directly between two parties without the need for a trusted third party, such as a bank or credit card company. Key transfers are protected by various incentive systems, such as public keys and private keys, as well as job evidence or store evidence.
Modern cryptocurrency systems have a public key in the user’s “wallet” or account address and the private key is known only to the owner and is used to sign transactions. Money transfer ends with a minimum transfer fee, allowing users to avoid the high fees charged by banks and financial institutions for wire transfer.
The semi-anonymous nature of cryptocurrency transactions is well suited for illegal activities such as money laundering and tax evasion. However, cryptocurrency advisers often highly appreciate their anonymity, citing privacy benefits such as security for whistleblowers or activists living under repressive governments. Some CryptoCurrencies are more personal than others.
How many CryptoCurrencies are there?
According to market research website CoinMarketCap.com more than 10,000 different cryptocurrencies are traded publicly. Encryption money continues to expand, raising money through initial coin offerings or ICOs.
Why is CryptoCurrency so popular?
- One of the reasons for the rapid rise in cryptocurrencies is the ease of exchange. No third party or intermediary is required to exchange cryptocurrencies between two parties.
- Another reason why people are attracted to cryptocurrencies is because of their value. Cryptocurrency is a popular investment not only in cash but also in cash. Investing in cryptocurrencies is similar to investing in the stock market.
- In addition to value, the other thing that attracts investors is its privacy. Encryption money is built on blockchain technology that promotes its security and privacy. Transactions made in connection with a series of web transactions are not so easily found. Therefore CryptoCurrency is attractive.
- Banks and financial institutions charge a fee for everything. If you go abroad, you will have to pay a fee to use your credit card. If you want to open a bank account, you have to pay a fee to maintain it. Using cryptocurrencies when collecting these fees can save a lot of money. The cost of using crypto currency is very low and it is a great choice for all types of transactions. This may be the main reason why cryptocurrencies are becoming more attractive.
- There are many types of cryptocurrencies in the cryptocurrency market. They are easy to buy and investors can consider whether to buy expensive cryptocurrencies such as Bitcoin and Ethereum for their transactions, or whether they want to buy new cryptocurrencies. This is a reason to become more and more attractive, as there are so many ways to choose.
- Even in the midst of a market crash, the cryptocurrency market will continue to grow.The latest news about the collapse of the crypto market has certainly reached everyone. When the Chinese government announced that it would ban cryptocurrencies in the territory, all cryptocurrencies were attacked and turned red. Even then, investors who believed in its potential saw lower prices as an opportunity to invest more. As cryptocurrencies are welcomed by many businesses and institutions, the potential for cryptocurrencies to become a legitimate form of payment in the future is growing.
What is the Onooks (OOKS)?
Onooks (OOKS) is a Decentralized CryptoCurrency network aimed at linking crypto real estate and other for-profit assets.
What is the purpose of Onooks?
The purpose of Onooks is to empower people to solve real world problems.
How Much Is Onooks Token Circulation?
November.08.2020 12 million tokens created
Supply of Onooks to date.(2021/08/12)
|Circulating Supply||10,140,204 Onooks|
|Total Supply||12,000,000 Onooks|
|Max Supply||12,000,000 Onooks|
Advantages of Onooks
In traditional business transactions, brokers, agents and legal agents add significant complexity and cost to a transaction. This will give more clarity in establishing the audit lanes and enable both parties to deal with the understanding of who to pay to as they know who they are.
- Asset Transfers
Onooks can be used to cryptocurrency and money transfer methods. Also, as an Onooks owner you have unique control over your account which minimizes the time and cost of transferring assets.
- Easier International Trade
Although not currently widely accepted as a legal tender at the national level, Onooks is by no means subject to exchange rates, interest rates, transaction fees or other taxes set by a specific country. Using the co-peer-to-peer mechanism of blockchain technology, border transfers and transactions can be done without the hassle of currency fluctuations.
- Individual Ownership
The biggest advantage of Onooks is that you are the sole owner of the corresponding private and public encryption keys that make up your cryptocurrency network identity or address, except to outsource the management of your wallet to a third party service.
Onooks has created a significant percentage of specific usage cases that demonstrate the flexibility of the cryptocurrency phenomenon.For example, the Onooks blockchain has supply chain codes that help you cover your identity and facilitate supply chain operations for a variety of industries.
- Strong Security
Once a crypto currency transfer is approved, it is non-refundable, as in the case of “refundable” transactions authorized by credit card companies. This is a deterrent to fraud, and if there is an error or a return policy, a definite agreement must be reached between the buyer and the seller for a refund. Finally distributed Ledger (blockchain) and Onooks is robust indirect encryption technology that is used throughout the transaction process to protect against fraud and account damage and to ensure the privacy of the customer.