Cryptocurrency & crypto derivatives have been making the buzz since a long time. Viewed as the next big thing among the big investors and economists. Today, cryptocurrency has become a global phenomenon. Garnering curiosity from every corner of the globe.
So what exactly is crypto currency? As the unknown creator of cryptocurrency currency, Satoshi Nakamoto, puts it in his words, “it’s a peer-to-peer Electronic Cash System”. A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. It is used to leverage technology to gain transparency and immutability.
So are there any benefits in using crypto currency? It challenges the traditional way of controlling finances with a central authority: the decentralised nature of blockchain make it theoretically immune to old ways of government control and interference.