An Unconventional Intro to Cryptocurrency
An Unconventional Intro to Cryptocurrency Cryptocurrency – What is it? Cryptocurrency is global digital currency that rests on blockchain technology. A mouthful, clearly, but simply put, it is digital currency that is not backed by or regulated by any government in the world. It is available in all countries and it is the same value in all countries as well. Some popular examples of cryptocurrencies include bitcoin and ethereum . Why Cryptocurrency? The main idea behind cryptocurrency is decentralization of the value of currency. During the financial meltdown of 2008, the dollar, upon which the all other world currencies were pegged against, drastically lost value. That meant that when the value of the US dollar decreased, it affected currencies all over the world. At the time if cryptocurrency was as mainstream as traditional currency, the value of the cryptocurrency may not have been affected at all, because its value is not pegged against any other currency. ...