An Overview Report on Cryptocurrencies

Bitcoin became the first decentralized digital currency in 2009; numerous cryptocurrencies have been created since then. Unlike traditional currencies, cryptocurrencies do not have a basic underlying value. It is not legal tender, and is not currently backed by any government or legal entity. In addition, its supply is not determined by a central bank and the network is completely decentralized, with all transactions performed by the users of the system. Cryptocurrencies have the potential to allow consumers acces ...

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