– Cryptocurrency –
“Cryptocurrency, a digital or virtual form of currency, is reshaping the financial world. Utilizing blockchain technology, it offers an unprecedented level of security and decentralization, characteristics that appeal to many in an increasingly interconnected world.
Bitcoin, the first and most recognized cryptocurrency, was created in 2009 by an anonymous individual or group named Satoshi Nakamoto. This digital currency operates without a central bank or single administrator, enabling peer-to-peer transactions to occur directly between users.
In recent years, other cryptocurrencies such as Ethereum and Ripple have emerged, each with unique features and uses. Ethereum, for example, supports smart contracts – self-executing contracts with the terms directly written into code.
Cryptocurrency’s influence extends beyond finance. The technology behind it, blockchain, could revolutionize sectors such as supply chain management, healthcare, and voting systems, creating transparency and eliminating fraud.
However, despite the potential benefits, cryptocurrencies face challenges including volatile price fluctuations and regulatory issues. These obstacles must be overcome for their mass adoption and acceptance in the future.”
Choose NO MORE THAN TWO words from the text for each answer.
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| Choose NO MORE THAN ONE word from the text for each answer.
The advent of ___________ , a type of virtual currency, is significantly transforming the economic landscape. Leveraging blockchain ___________ , it promises superior security and ___________ . Bitcoin, the pioneer, was established in 2009, and enables transactions to occur directly between parties. New cryptocurrencies like Ethereum have since appeared, offering unique attributes, including support for smart ___________ . Blockchain’s influence could even extend to various industries, enhancing transparency and mitigating ___________ . Yet, hurdles such as extreme price ___________ and legal issues still remain. |
Vocabulary Builder
- Find the synonyms (words with the same or similar meaning) to these 9 words from the original passage.
| Original word | Variants used |
|---|---|
| Cryptocurrency | ______________ / _____________ |
| Blockchain technology | _____________________ |
| Security | _____________________ |
| Decentralization | _____________________ |
| Peer-to-peer transactions | _____________________ |
| Smart contracts | ______________ / _____________ |
| Transparency | _____________________ |
| Volatile price fluctuations | _____________________ |
