Cryptocurrency - the key to future transactions | Teen Ink

Cryptocurrency - the key to future transactions

December 4, 2022
By Anonymous


There are over 18,000 cryptocurrencies in the world, nobody knows who created them but they have certainly taken the world by storm. So to answer the question that has been on each reader’s mind , what is cryptocurrency?

 


Cryptocurrencies are a type of digital asset. They allow us to make  digital payments. It's called 'crypto' because the transactions are encrypted, which makes them very secure. They operate on the blockchain, which is a digital ledger that stores these transactions. 

Usually, they're used by digital artists to name a rightful owner of a work This technology helps them profit a lot m o r e from their work than they would otherwise too. 

 


Our government  recently launched digital rupee which. Form of currency only existing in cyber space and does not have real and physical properties however it has an equivalent value to the real currency , this too might use the same blockchain technology like the cryptocurrency however the only difference being that it would be issued and authorised by the Reserve Bank of India 



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