Prolitus Technologies is a result-driven emerging firm dedicated to providing excellent decentralized application development service. We have developed an in-house platform for developing new cryptocurrency. Besides developing new cryptocurrency, we also offer quality services for cryptocurrency wallet and exchange development. Our custom Blockchain development is the center of our services, and we offer custom Blockchain software solutions to different industries including Finance, Healthcare, and other industries.
A Cryptocurrency holds significance from two perspectives i.e. business and technology.
From a business perspective, it is a digital currency or cash just like USD which can be exchanged between two entities, with the difference that cryptocurrency is made for the transactions on the Blockchain network.
On the technological side, the essence of the cryptocurrency is reflected from the word ‘crypto” which represents cryptography. Cryptography helps in the secure transaction of this currency and controls the creation of new units of this currency.
Blockchain Technology was Originally Designed for the Exchange of Cryptocurrency (Bitcoin)
The Blockchain Technology was designed for the exchange of the world’s first cryptocurrency i.e. Bitcoin. It is a huge success and has grown manifolds since inception. It has not only created a space for itself in the industry, but it also has paved the way for other cryptocurrencies such as Litecoin, Dogecoin, Ripple, Preecoin, Primecoin, Namecoin, Quark and more.
Bitcoin is an open source so anyone can use the original Bitcoin source code (available for free) which makes it possible to create a new similar cryptocurrency. These cryptocurrencies are known as Bitcoin Alternatives or Altcoin. The use of cryptocurrency has increased in the past couple of years which has led to increase in the demand for cryptocurrency wallets and exchanges development. The main reason for the growth is the decentralization offered by cryptocurrencies that eliminated the involvement of any government agency to control the transaction.