Digital Currency, often called “Cryptocurrency”, is a type of money that exists only in electronic format. It is a series of data that uses a technology called Block Chain, which acts as a ledger and maintains a history of what Cryptocurrency is used for. Like coins or paper money, Digital Currency is stored in a digital wallet, and can be used as a traditional method by buyers and sellers to pay for the exchange of goods and/or services. The transfer of ownership of a Digital Currency is stored as a record on the Block Chain, which can be traced from user to user. There are obvious benefits to tracking the activity of any currency, the most important benefits being proof of ownership and fraud prevention and mitigation.
The recent growth in popularity of Cryptocurrency has given way to a new era of wealth in the technology industry. While traditional methods of generating income or accumulating wealth often involve exchanging a product or service for money or payment, Digital Currency is completely different. Like gold or silver dug out of the ground, Digital Currency uses “miners” to process thousands of calculations per minute, effectively digging up a mountain of digital rocks and dirt to find what is ultimately a solution to a worse. complex math problem.
Until recently, a Technologist’s ability to generate a salary was dependent on developing digital applications or providing their technical expertise to a business. However, with the birth of Cryptocurrency a Technologist (or even a new user with some basic computer programming skills) can bypass the basic work and directly participate in the creation of this new currency through build a cadre of ultra-powerful computers whose purpose is “I” Cryptocurrency.
The corporate world relies heavily on the skills and abilities of Computer and IT Professionals. But as the popularity of virtual currency continues to grow and become more and more popular, combined with the natural skills possessed by even some of the most basic computer programmers, the corporate world may begin to see Cryptocurrency as a threat to their business operations. Compared to answering to a boss in a Technology company, Digital Currency mining can be an attractive job opportunity, therefore leading to the potential shortage of qualified computer programmers in the Technology industry.