Do Cryptocurrencies Have Any Future?

Do Cryptocurrencies Have Any Future?

- Kishore Kumar Biswas

Cryptocurrency is a digital asset designed to work as a medium of exchange. It has been a growing matter of discussion among a section of people as there has been an opportunity of financial gain by trading it and using it as a medium of exchange around the world. National and international media have been discussing the virtual or digital currency, and its benefits and drawbacks. Its creation of units and transactions are done through cryptography, which involve knowledge of mathematics, physics, electronics and computer application. That is why it is secure and every transaction is recorded in the system. The entire operation is done through a blockchain technology. It is the master ledger that records and stores all prior transactions and activity, in blocks. As a result, it validates ownership of all units of the currency at any given point in time.

Nature of transaction by cryptocurrency