A big invention is the recent introduction of global digital currencies that uses a public ledger system for payments, investment, and other forms of transactions. These transactions are now being carried out with ease and devoid of any restrictions whatsoever. It is a revolutionary transition from the engraved metallic coin to the printed papers and now, to the reign of digital currencies. Such digital currencies include the likes of Bitcoin, Ethereum, Litecoin, etc. and they are categorically called cryptocurrencies.
WHAT IS BITCOIN?
Bitcoin is a type of digital currency that is produced and held electronically. They are increasingly being produced by people, businesses, and enterprises running computers all over the world using software that solves mathematical problems. Bitcoin transactions are sent from persons to persons without a third party like the conventional centralized banking system.
What is Cryptocurrency?
Cryptocurrency is a general term used to describe digital currencies created to enable the medium of exchange using cryptography. This ensures the security of all transactions carried out as well as controls the transfers and creation of additional units. Bitcoin is the first ever decentralized cryptocurrency created.
With the popularity of Bitcoins across the globe, it is certain that the future looks bright for the digital currencies. More and more people, companies and agencies are starting to take a keen interest in this form of currency.