Question

What is the financial infrastructure used in the production of crypto money?

Answer 1

The financial backbone of crypto currency is the Distributed Ledger Technology. Blockchain which is famously known as the Bitcoin foundation is also a type of DLT.

A distributed ledger can be described as a record of transactions maintained in a decentralised form across different locations and people eliminating the need for a central authority to keep a check against manipulation.

A well known technique of production I.e. mining is an energy intensive process where a crypto unit is produced when transaction is confirmed across the ledger.

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