Digital Currency by Fouad Sabry (.ePUB)
File Size: 506.94 KB
Digital Currency: While All Cryptocurrencies Can Be Termed as Digital Currencies, the Reverse Is Not True by Fouad Sabry
Requirements: .ePUB reader, 506.94 KB
Overview: What Is Digital Currency
While all cryptocurrencies can be termed as digital currencies, the reverse is not true. Cryptocurrencies are managed by a computer algorithm, while digital currencies are backed by an authority
Now, digital currencies exhibit properties like other currencies, but do not have a physical form like that of banknotes and coins. You can receive, transfer and / or exchange digital currency for another currency. For example, it can be used to pay for goods and services, in an online store.
Cryptocurrencies like Bitcoin and Ethereum are pieces of computer code that are not managed by any authority. Creation, as well as use, is maintained through a distributed ledger, typically a blockchain, that serves as a public financial transaction database. So, cryptocurrencies typically use decentralized control where there is no presence of a third party to have authority over the investor.
Genre: Non-Fiction > Tech & Devices
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