The Ultimate Guide for Launching Your Own Cryptocurrency in 2022

 Everyone is talking about cryptocurrency these days, and crypto development company in India has also skyrocketed. Which led to many new cryptocurrencies popping up from different sources. So, what’s the future of crypto in India, and how it’s related to a  Blockchain development company in India? Let’s find out.

 

What is a cryptocurrency?

A cryptocurrency is a currency, that’s maintained digitally and secured by advanced encryption techniques so that nobody can steal your money in a traditional sense.  

 

What is Blockchain and how it’s linked to cryptocurrency?

Imagine a big database. A huge collection of information. Stored in a way that’s termed as “blocks” (remember this, we will discuss it later). All these blocks are connected with complex cryptographic protocols, thus making sure it doesn’t compromise on data. This is blockchain in basic terms. It’s a lot more complex if we go into the execution part of it. 

Think of blockchain as a big ledger, a system where every information can be stored and facilitated, like tracking assets and other data in businesses or recording transactions. This is where cryptocurrency comes into play. Remember this part of ‘recording transactions’ we will discuss it later. 

 

Why blockchain is important?

An asset whether it’s tangible (like a house, car, land, etc.) or intangible (patents, branding, copyrights, etc.), you can easily track and trade all these on a blockchain network, without any risks of safety or security. Blockchain makes all these processes safe and secure.

Businesses run on data and information, whether it's smart contract development or any other business field, you need to transmit information fast and it needs to be accurate. This is where a blockchain comes into the picture, as a source that can transfer information fast and in a transparent way. Transparent doesn’t mean, anyone can see it. Instead, it can only be seen on a permissioned network.

 

So, how are cryptocurrency and blockchain linked together?

Think of a big building. This building needs a strong foundation to stand and to resist different forces of nature. Cryptocurrencies are like big buildings. Without blockchain, they will not survive. Blockchain is the foundation of a cryptocurrency.  

Remember, we talked about blocks in the blockchain, these blocks under a blockchain reinforce the information that’s from a previous block, thus referencing a hash.

 

What is a hash?

Let’s take an example: You do a transaction, and this transaction comes under the blockchain. Now every time you do a transaction, a block is made that’s linked with another block to form a blockchain. All these blocks in the blockchain are linked together thus referenced under a hash from a block before. All these blocks create a hash.

So, a hash is a single-way cryptographic algorithm, which makes a message a coded message that has a fixed output. Therefore, every block created under a hash is linked, creating a permanent ledger that contains all the records of those processes. 

If you try any block, that’s old and already in the blockchain, it will change the hash as well and it will invalidate the entire chain. Therefore, it’s impossible to change it and thus no errors or other malpractices are involved in blockchain.

 

Why is cryptocurrency so secure?

Now, we know why all the cryptocurrencies are so safe, as they have a strong base of blockchain, that’s making all the transactions transparent. Plus, the cryptocurrency is mined and served on peer to peer networks. That means, no central agency is involved, that has all the data and resources. Instead, it’s spread across the globe involving users and people who mine cryptocurrencies.

 

So, what’s the future of Crypto in 2022?

As the market of cryptocurrencies goes bigger and bigger, it will be accepted by every major player and on every major platform that will accept it sooner or later. No business can ignore its presence and if you are searching for one of the best crypto development company in India or want a blockchain development company in India, then trust Arramton, a company to handle all your crypto needs. 

The future of cryptocurrency is bright in India and it will be accepted everywhere.

 

That’s why we have Arramton, who can handle all your crypto needs with ease.