CRYPTOCURRENCY a new age currency?
Money has evolved into different forms from barter system to the present day paper currency. There is a possibility that it may evolve further i.e, cryptocurrency. What is cryptocurrency ? cryptocurrency is a digital currency which uses internet to accept payments by creating encryption algorithms (coding algorithms). It is a mode for medium of exchange of money where one can send or receive money. It is decentralized system where intermediaries like government or bank does not exist to regulate it and transfer of funds happens between two private entities. cryptocurrency ownership records are stored in a database(digital ledger). It uses strong cryptography to provide security to creation of extra coins and verify the transfer of coin ownership. cryptocurrency is not in the physical form(like paper currency) but works as a blockchain that acts as public database. Different categories in cryptocurrency; There are different kinds of cryptocurrency like Bitcoin, Ether, Binance coin, Teth...