How Cryptocurrency Works and its Future
Cryptocurrency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining. It is a digital or virtual currency that uses cryptography for security. It is organic in nature i.e. it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Being decentralized means having no server or central authority. Cryptocurrency is actually a subset of digital currency. The anonymous nature of cryptocurrency transactions makes them well suited for a host of nefarious activities, such as money laundering and tax evasion. The first cryptocurrency that came into existence was Bitcoin , which was launched in 2009 by an individual or group known under the pseudonym “ Satoshi Nakamoto ” . Thereafter due to Bitcoin’s success and popularity, many other competing cryptocurrencies came up like - Litecoin, Namecoin, PPcoin, Ethereum, Ripple, Monero, etc . These virtua