Emerging Technologies | Computing & Software

Cryptocurrency

Background


Cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. Many cryptocurrencies are decentralized systems based on blockchain technology, a distributed ledger enforced by a disparate network of computers. A defining feature of a cryptocurrency, and arguably its biggest allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

Some of the emerging trends in cryptocurrency include the use of blockchain technology for smart contracts, the use of initial coin offerings (ICOs) for fundraising, and the use of altcoins for alternative investments.

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