No touching required!
The definition of a cryptocurrency is a digital currency built with cryptographic protocols that make transactions secure and difficult to fake. The most important feature of a cryptocurrency is that it is not controlled by any central authority: the decentralized nature of blockchain makes cryptocurrency theoretically immune to the old ways of government control and interference. Cryptocurrencies make it easier to conduct any transactions, for transfers are simplified through use of public and private keys for security and privacy purposes. These transfers can be done with minimal processing fees, allowing users to avoid the steep fees charged by traditional financial institutions.
However, the latest news on cryptocurrencies indicates that because cryptocurrencies are devoid of a central repository, a digital cryptocurrency balance can be wiped out by a computer crash, a hack, and other unexpected events.
- Russia Postpones Its Crypto Law Again, Now Blaming Coronavirus
- BCH, BSV Block Halvings Will Force Miners to Bitcoin (BTC) — Report
- ‘Prime Brokerage’ for Crypto: Apifiny Launches Institutional Platform to Connect Exchange Liquidity
- Bitfury Becomes Latest Crypto Industry Player to Join COVID-19 Research Project
- SEC Claims Telegram Injunction Applies to ‘Any Person or Entity’