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Writing an Essay on Cryptocurrency: 5 Key Points [Sponsored]

By June 24, 2020 No Comments

Today, the world is on the verge of a digital revolution that will affect all areas of public life. Cryptocurrencies are one of the most relevant topics when it comes to the digitalization of the economy. Many students choose cryptocurrency as a topic for writing an essay. However, even if you have decided on a topic, this does not mean that it will be easy to transfer it to paper. A site where you can buy essays for college can help you with this. In this article, in turn, you can find 5 important points in writing an essay about cryptocurrency.

  1. Compose Your Ideas Using a Diagram or Outline

Some understudies get terrified to begin composing. They need to ensure they have every one of their musings sorted out in their mind before they put anything down in writing. Making a chart or blueprint permits you to put pen to paper and begin arranging your thoughts. Try not to stress or struggle with the organization now, simply make a moderately composed format for your data.

Whether you utilize a graph or plan doesn’t generally make a difference. A few people like and work better with the streaming structure of a graph. Others like the inflexible and coherent structure of a layout. Try not to worry, when you begin, you can generally change groups if the plan you picked isn’t working out for you.

  1. Build up a Thesis Statement

When you have a thought for the essential structure of your exposition, and what data you’re going to introduce in your paper, it’s an ideal opportunity to build up your thesis statement. A thesis statement states or lays out what you expect to demonstrate in your article. A decent thesis statement ought to be clear, compact, explicit, and takes a position.

It is necessary to focus on a narrower topic, for example, to discuss the phenomenon of mining. You can say that mining is important for understanding the cryptocurrency phenomenon – the activity of maintaining a distributed platform and creating new blocks with the ability to receive rewards in the form of issued currency and/or commission fees. Miners make calculations for transactions by cryptographic encryption of new blocks, and the reward encourages people to spend their computing power and thereby support the operation of networks.

Further, you can discuss the pros and cons of mining and summarize this in conclusion.

  1. Write a Background

You can start with the background and write about cryptocurrency in general. It will be advisable to include information that against the background of crisis processes and the loss of confidence in traditional economic institutions, interest in cryptocurrencies is growing. This topic is especially popular today among the scientific community and the general public. Sometimes they even see “digital gold” as the latest stage of the digital evolution of money, a model of a “virtual” economy in miniature. A large amount of literature is published on the topic of blockchain and cryptocurrencies, however, most of it is not directly scientific in nature and is published in the public domain in the form of essays or quasi-scientific notes by representatives of the digital elite – DJI. In this example, we can trace the change in the production of scientific knowledge in areas related to new digital technologies of the 21st century.

  1. Create a Body

The body of your article is the place you clarify, depict, or contend the theme you’ve picked. Every one of the fundamental thoughts you remembered for your blueprint or chart will take place in the body passages. On the off chance that you recorded four principle thoughts in your layout or outline, at that point you’ll have four body passages.

Here you can write about the fact that the mining mechanism allows you to avoid inflation: the creators of cryptocurrencies can limit the speed of creating new blocks (i.e. the frequency of emission), as well as the reward for their creation (i.e. the volume of emission). For example, a Bitcoin blockchain is formed every 10 minutes. We can also mention that cryptocurrencies exploit the ideas of rapid enrichment, globalization up to anti-statehood, the dominance of mathematics, and the free flow of capital.

  1. Write a Conclusion

The last section of the paper gives the conclusion. This section ought to ought to rehash your thesis statement utilizing slightly different wording in comparison to the one utilized in your intro. The section ought to sum up the contentions introduced in the body of the article. The last sentence in the end section ought to convey that your paper has reached and a general conclusion. Your finishing up passage ought to convey to the reader that you’re certain that you’ve demonstrated the thought as set in your thesis statement.

Here you can write that cryptocurrencies today are at the center of the topic of digitalization of the economy. However, digitalization is not a panacea; any reforms can serve both for the good and the detriment of the country’s economy and interests. The introduction of new technologies does not remove the need for strategic planning for the development of the economy, ensuring the sustainable and proportional development of all its sectors and increasing the welfare of citizens.

Summing up

Being able to compose powerful papers will turn out to be progressively significant as you progress through college years. If you’ll internalize the organization of the essay introduced above, you’ll build up the capacity to compose clear and convincing expositions and will have good grades.