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Viewing posts from September 2020


Sep 064:00 pm

Introduction

The emergence of virtual currency has become to be a trend from the last decade. Cryptocurrency is emerging as a financial software system. Cryptocurrency is a digital peer-to-peer legal tender where individual’s coins (bitcoins) ownership records are stored in ledgers existing in computerized databases using cryptography to secure transaction records. A bitcoin is digital cash that is not backed up by any country's central bank. The cryptocurrency works with a distributed ledger technology known as a blockchain. This is, according to Anthony S. (2016). A blockchain is a digital ledger book where transactions are copied and supplied through computers' entire system. Each time a transaction is made, all the participants get the information. This article will tackle the history of cryptocurrency, its benefits, and where it has been applied successfully.


The history of cryptocurrency

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