CRYPTOCURRENCY A Digital Revolution

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Definition of Cryptocurrency

Cryptocurrency is defined as digital currency designed to perform transformation using the computer network without the intervention of a middle man. Cryptocurrency is also seen as a digital currency designed to exchange records on a decentralized exchange.

Cryptocurrency, means a digital or virtual currency has become one of the most revolutionary technologies out there. While most established world currencies are controlled by governments, Crypto currencies use a distributed network based on the implementation of structures known as Blockchain. This technology is known to bring about the aspect of: security, transparency as well as the immutability of the transaction that takes place.

Key Features of Cryptocurrency:

Decentralization: Cryptocurrencies do not belong to anyone or any organization like government or bank. This decentralization reduces the role of middlemen and makes the carrying out of the transactions more efficient.

Blockchain Technology:
Cryptocurrencies utilize blockchain, a sort of shared database that records transactions over the internet. Every transaction is certified and incorporated in a block and the block is associated with the previous block making a chain of blocks. This the will reduce cases of insecurity and enhance the transparency of transactions.