Digital Currency & How It Works
Digital currency refers to a form of currency that exists only in electronic form. Unlike traditional currencies such as coins or banknotes, it has no physical manifestation. This means they are stored and processed electronically. Types of Digital Currency We have many different digital currencies, the most popular ones are cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Blockchain technology is used to operate on decentralized networks for these. Some digital currencies are centralized and issued by central banks or governments.The digital yuan in China and the digital euro project are two examples. How Digital Currency Works The technology behind digital currency is known as blockchain. which is a decentralized ledger. Every transaction on a computer network is documented in the ledger. Each transaction is grouped into a block and these blocks are linked together in a time series, creating a secure and transparent record. Transactions and Security A program for putting awa