Define: Digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.
How did it start: In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system.
Future: A cryptocurrency that aspires to become part of the mainstream financial system may have to satisfy widely divergent criteria. It would need to be mathematically complex (to avoid fraud and hacker attacks) but easy for consumers to understand; decentralized but with adequate consumer safeguards and protection; and preserve user anonymity without being a conduit for tax evasion, money laundering and other nefarious activities.
Source(s): -
https://en.wikipedia.org/wiki/Cryptocurren... -
www.investopedia.com/articles/forex/091013/futurecryptocurrency.asp
Posted By: Raunak Rishav
Thursday, December 14th 2017 at 12:14AM
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