Evolutions in the Development of Currencies: Cryptocurrency
Abstract
Cryptocurrency or cryptocurrency is a type of digital, virtual currency used as a means of payment. This type of currency eliminates the need to carry cash and makes it easier to purchase goods. Cryptocurrencies work on a chain of computers, in a peer-to-peer network without an intermediary. The process by which cryptocurrency transactions are validated is called "mining", and the participants are called "miners". These coins are stored in special, digital wallets. Cryptocurrencies are long-term investments considering the growing interest in virtual currency.
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