CRYPTOCURRENCY
8 December 2017 By PDSNETA digital or virtual currency used as a medium of exchange using cryptography for security, transactional accuracy, creation and verification. These currencies are extremely difficult to counterfeit and as they are not issued by any official authority, they are immune to government interference or manipulation. Bitcoin, created by an individual or group under the pseudonym Satoshi Nakamoto, was the first cryptocurrency to gain popularity. The success of Bitcoin has resulted in the creation of a number of other competing virtual currencies. These alternative cryptocurrencies are also known as altcoins and, as with Bitcoin, use a decentralised control rather than a centralised electronic banking system. Bitcoin's blockchain transaction database ensures this decentralised mechanism, and is run by a network of nodes running Bitcoin software, instead of any trusted central authority.
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