Blockchain technology is a new buzz in the market which is increasingly getting popular. It is well-known as the Cryptocurrency trading where the trading is done. It will not give you profits if you just dive in without any knowledge. You need to understand the basic fundamentals of the way trading works here. The one who has deep knowledge of this can make a high percentage of profits here. Cryptocurrency is a digital currency that does not have any geographical limitations. Here, the regulation is done by any of the government. This works on the digital public ledger of blockchain which is shared by any person around the world. The ledger can be verified and transactions can be seen whenever needed for verification. The transactions are verified by blockchain and are very transparent. Cryptocurrency and Bitcoin are both parts of blockchain only, which are operated on the internet. Working of the blockchain: There are many of the currencies today and you need to understand which are the top and well-known. So, selling and buying can be made considering profitability. Ethereum and Litecoin are examples that are on top. Like this, there are new such currencies in the market. You have to choose them. Key Terms associated with the Bitcoin Cryptocurrency: While acquiring the knowledge of Bitcoin, you must know some of the important terms related to the Bitcoin. It is termed as BTC, which is 1 million bits equal to 1 Bitcoin. With the increase in Bitcoin trading, there evolved some of the alternative cyptocurrencies. They are known as Altcoins. Some of the examples of the alternative cyptocurrencies are Litecoin(LTC), Ethereum(ETH), Ripple(XRP), Monero(XMR), and the many as such. The next important term is “Mining” done by the computer hardware for Bitcoin networks. What is Monero? Monero (XMR) is a well-known open-source digital currency. It was created in April 2014 and concentrates on fungibility, privacy and decentralization. Moneyo is known to utilize an obfuscated public ledger, which means anybody can publish or deliver transactions. However, no external viewer can predict the source of such transactions, its amount or destination. Monero utilizes the Proof-of-Work consensus to allocate new coins and compensate miners in order to secure the system and verify transactions. XMR with its own block explorer appeared to exhibit all these features and with a high level of anonymity. Monero was coined out to be the most preferred coin of traders and Cryptocurrency beginners. XMR price has shown rapid growth and in the times when bitcoin and Ethereum add values to investment, monero aims to be another great choice. Monero saw a major price surge in the second half of 2016. The coin had surged suddenly to $14 by September of the year. Eventually, a 2700% increase in the price. Then, by the last quarter of 2016, beginning in October, Monero experienced a progressive price increase which escorted prices towards its first $50 by late November. In December, however, Monero continued its gain spree by adding a couple of units more. Entering 2017 with a $60 price tag, Monero refused to bow to the immediate bear markets that saw other major cryptos plunging as early on into the year as possible. By the last quarter of the year, the top cryptocurrency had touched a new milestone at $100. In October however, the price crossed $200 in one-way bull traffic that later propelled it through $300 in December. Apart from these, there are various types of Blockchains too. Below is the list of types of Blockchains: Public (Example – Ethereum, Bitcoin, Dash, Factom) Private (Example- Blockstack, Multichain) Consortium (Example – R2, Ripple) All these terms are altogether different which were never heard off. Once you know these basic things in Bitcoin, you can explore some more things before actually starting trading in it. A well-informed knowledge can help to minimize the loss along with getting profits. Get more information here on Monero price prediction .