Cryptocurrency is future : ADS Coin | by ashish sharma | Apr, 2022 | Medium
Cryptocurrency is future : ADS Coin | by ashish sharma | Apr, 2022 | Medium
ashish sharma Follow Apr 30
· 4 min read
Cryptocurrency is future : ADS Coin Cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography. It may seem a difficult definition
so let me make it simple for you .
Cryptocurrency is made up of two words Crypto + Currency. Crypto means hidden or secret. Currency is a medium to buy or sell products and services. Each country has it’s own currency
like in India we have INR (Indian Rupee) regulated by Indian government through RBI. So cryptocurrency is a secret but international currency there is no restriction or regulation of any particular government.
If we already have currency then why cryptocurrency?
Change is the only constant. There are a lot of reasons or we can say advantages of Cryptocurrency over currency regulated by any institution or government.
Cryptocurrency is decentralized — what does it mean? We know that currency like INR is centralized and regulated by government institutions but cryptocurrency is not regulated by any specific person, institution or government. As we know that in 2016 Indian government announced the scrapping of high-value banknotes which amounted to 86% of currency in circulation. this type of scenario is not possible in case of Cryptocurrency. or take another example
Just suppose you have a bank account and someday your bank makes zero all your balance means delete your deposit entry from their ledger then what? how you will prove you had money in your account in that bank.
Hope you have watched Harshad Mehta 1992 scam. How a bank lost its receipt. but in case of cryptocurrency as its decentralized means its ledger is public ledger because technology behind cryptocurrency is blockchain. In simple words every transaction gets stored in many-many computers and everyone can verify. Even if someone try to delete entry from any of computer, he or she would be caught easily because other computers would not verify those fraud attempts.
One more disadvantage of centralized currency that if any government prints more money, it will be responsible for inflation in that country and may be reason for downfall of economy of that country. This happened in Zimbabwe, in Africa, and in Venezuela, in South America, when these countries printed more money, prices rose faster,
until these countries started to suffer from something called “ hyperinflation ”.
Let me explain you how inflation is dangerous for you. Suppose you have hard earned 10 rupee and you can buy 2 chocolates but if more money will be printed hyperinflation makes prices of things high and suppose now chocolate price becomes 10 rupees so now from your hard-earned money which could buy you 2 chocolates now can buy only one chocolate so indirectly value of your money becomes half and if continuous inflation happens may be value of your money becomes almost zero someday.
Maybe you will think our government will never do such thing so we don’t need to worry but we know that when there occur irregularities in any country currency it may affect other
countries currency and economy. Hope now you have understood why we need international decentralized currency that is Cryptocurrency.
Technology behind Cryptocurrency- cryptography is used for verification of transaction and blockchain is technology on which cryptocurrency works. Blockchain consists two words
Block and chain. Block is like a computer network which stores all entries of transaction of cryptocurrency. Chain is connection between all these Computer blocks. So, all transactions stores in many computers so it’s a public ledger no one can take your money by deleting any entry like in case of centralized currency.
Maybe you will think that if it’s public ledger then everyone can see how much money we have but actually all data be stored in coded form so even after being stored in many computers, no one knows how much you have.
Scope of Cryptocurrency in India – As of now Cryptocurrency is legal in India after new bill passed by Indian government so you can invest in Cryptocurrency. You can transfer money anywhere in the world. As India is one of the biggest markets so we need Indian Cryptocurrencies which are based on blockchain technology. ADS coin an Indian Cryptocurrency
is going to launch its Initial coin offering (ICO) from 30 April 2022. Ads coin is based on TRC20 blockchain network. Supply of Ads coin is limited (10 billion only). Limited supply
may hike its price rapidly in case of demand in near future. As of now you can use ADS coin for crypto investment or money transfer from anywhere to anywhere.
Why ADS Coin?
ADS Coin is an Indian cryptocurrency coming with ICO so you have an opportunity to buy it at very early stage which may make you a huge profit. And if in future Indian government
announce Cryptocurrency as legal tender of money ADS Coin may be your currency to buy or sell products and services in India.
