Technology: Present Day Tech 1

– 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.

Cryptocurrency is a _________ or virtual form of currency that is revolutionizing the world of finance.
One of the key characteristics of cryptocurrencies is that they offer an unprecedented level of _________.
Bitcoin is a type of cryptocurrency that allows ___________ transactions between users.
Ethereum, another type of cryptocurrency, supports smart _________, which are self-executing contracts with the terms directly written into code.
Blockchain technology could potentially be used in different sectors, creating ___________ and eliminating fraud.
One of the key challenges faced by cryptocurrencies is their _________ price fluctuations.

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	_____________________

Reveal answer (24 More Words)

Original word	Variants used
Cryptocurrency	Digital currency, Virtual currency
Blockchain technology	Blockchain
Security	Superior security
Decentralization	Direct transactions
Peer-to-peer transactions	Transactions to occur directly between parties
Smart contracts	Self-executing contracts, smart agreements
Transparency	Enhancing transparency
Volatile price fluctuations	Extreme price changes