What is Cryptocurrency and How it Works
4 years, 10 months ago

What is Cryptocurrency and How it Works

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New Delhi: The Supreme Court on Wednesday allowed trading in cryptocurrencies. Now that the top court has allowed trading in cryptocurrency, here is all that you need to know about it: Cryptocurrency or virtual currency is primarily an internet-based medium of exchange. It uses cryptographical functions to conduct financial transactions between two parties through private and public keys. There are various types of cryptocurrency which are supported by a decentralised peer-to-peer network called blockchain. To use this virtual currency, a user would need a payment network with accounts, balances, and transactions.

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