Docy Child


Cryptocurrency

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Cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet. Cryptocurrencies such as Bitcoin use blockchain as an enabling technology, but cryptocurrencies and blockchain are distinct. Bitcoin and other cryptocurrencies are an application of blockchain that enables a digital store of value in a transaction system that does not rely on trust. Cryptocurrencies create incentives for members to participate in the management of the ecosystem. For instance, the entities that provide the computing power to process the transactions in the Bitcoin network are compensated with new Bitcoins. This creates a self-sustaining ecosystem

 

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