updated 26 seconds ago
Data source: CoinMarketCap
Pandacoin (PND) to Nectar Token (NEC) Conversion Table
A cryptocurrency is a digital currency stored in digital form on what is called a “blockchain”, distinct from traditional currencies which are represented in physical form with paper/plastic notes or metal coins. The blockchain can be understood as a digital public ledger which tracks coins coming into existence, and coins moving from place to place. This digital currency in the form of information is created through the process of solving algorithms. That is, you start off with an algorithm or formula which contains the information in question, which is then solved. A computer or other piece of hardware is what does the work to solve the algorithm. For each part of the algorithm that is successfully solved, a certain number of these digital coins are released to the worker that solved the section of the algorithm. An analogy to this would be, a person has a collection of math problems, and for each math problem solved, that person gets paid a dollar. These coins can be traded to merchants who accept them in exchange for goods and services, can be bought or sold for traditional currencies, or traded for other digital currencies.