Jun 25, 2021 20:48 UTC
Jun 25, 2021 at 20:48 UTC
Is The US Government Working On New Secret Crypto ?
The US government is playing around a difficult crypto dollar known which has not been known yet. It is hoped that the US dollar is going to look more like bitcoin or even it acts like bitcoin to many extend. National Science Foundation is an independent agency based in the United States under the government of the United States. They have awarded KNRC $ 255000 for research purposes.
This is a blockchain startup based in Los Angeles. Hence it is said that the US government is trying to come up with a kind of fiat currency that can be used as bitcoin. The ultimate aim is to create a fiat currency that will have the feature of the bitcoin. KRNC will take the positive of bitcoin and that will be added to the money and people would be ready to accept the fiat currency for what it is.
We got to know the details from Crypto Cash about this blockchain. This form of fiat currency come bitcoin is going to be the strongest among all other assets available in the market. This is in the form of inception that is this cryptocurrency is obviously a form of digital money, and it uses cryptography which makes it difficult for the counterfeit to copy of the same bitcoin.
Such cryptocurrencies are actually liked for the kind of technology they hold or the kind of network it has. The special decentralized kind of network, which can be used for the normal fiat currency which is not used in other cases. This underlying decentralized network is set using the blockchain technology.
Mining cryptocurrency is the game of the computers; the computers will have to do some kind of mathematical calculation to do a bitcoin mining properly.
So the US is not trying to bring new cryptocurrency, it is just a hybrid kind of currency, which is a fiat currency but with the quality of the bitcoins in it.
Advantages of Bitcoin Not Present in Fiat
There are some advantages of the cryptocurrencies which are not present in the fiat currency.
- Bitcoin needs not to be carried anywhere you go, like fiat currency.
- You cannot carry the bulk amount of fiat currency but you can carry bulk cryptos.
- Bitcoins are not taxable yet, while fiat currencies are highly taxable
- The chances of stealing the cryptocurrency are much lesser than that of fiat currency.
- Fiat currency is always kept in a safe or secret vault at home, cryptos can be kept in normal hardware or software vault with a public and a private key
- It is difficult for one to have a vault to save everything in it
These are some of the qualities that are required to be punched with the note too and people would find it convenient to use. Then people would not be afraid to use the new kind of hybrid currency because they would know that it is actually a better option. Some people think that it is actually a smart move to get away from the bitcoin if required.
- There is nobody or authority or organization related to this hence there is no authority that would control this plus people would not care if you lose or make a profit because it is totally up to you whatever you do is up to you.
- Blockchain is not as famous as you think it to be, because the idea of blockchain is still vague and many yet do not understand the relevance and the importance of blockchain technology. It will take ages to become something very relevant to what actually they want.
- Emotional investors tend to get invest their emotions while investing in trading which pinches their pocket along with the emotion. It is never a good idea to mix emotions and money because then it becomes really difficult to choose to invest when your heart involves in it.
- While you deal with crypto and money you must not think from heart, all you need to do is think using your brains completely. It would hurt you a lot if you lose all your money just if you invest without thinking of it.
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