The concept of cryptocurrency was introduced by the introduction of Bitcoin (BTC) in 2008, which sparked a revolutionary social and technological revolution. The aim of cryptocurrency is to create a platform to facilitate global, peer-to-peer transaction settlement that ensures privacy as well as financial security.
A cryptocurrency’s monetary policy is implemented through an unique combination of cryptography, software, and financial incentives, rather than the decisions of trusted third-party entities like central banks, companies or government. Cryptocurrencies are supported by cryptographically secure verified transaction databases, also known as blockchains. They provide security and the ability to be transparent.A cryptocurrency network is a vast community of stakeholders comprising the validators who ensure the security of the network, while also adding payments to blockchain and the traders who bet on these market-driven, radically volatile assets, as well as the developers trying to get people on board to this revolutionary financial model.
We are at Cointelegraph We are capturing the continuing tale of the cryptocurrency industry and the development of a permissionless, borderless financial system. What will industry players do to ensure that cryptocurrency is a staple in the lives of people? What will crypto-related investments mean for the paradigm of our current financial system? Will the existing and traditional systems be able to accept or resist this new paradigm?
Keep an eye on the market: Cryptocurrencies will have a significant role to play towards the next.