Cryptocurrency is a digital asset created to work as a medium of exchange using cryptography to secure its transactions, in simple terms a “peer to peer electronic cash system”. Transactions are recorded in digital assets on a decentralised distributed public ledger known as the Blockchain.
There have been many attempts before to create a “peer to peer electronic cash system” with the likes of “Flooz” and “Digicash”. Digicash was created in 1989 and one of the reasons for its failure is that they couldn’t overcome the problem of “double spending”. This is a problem where the same digital token/asset can be spent more than once, duplicated or even falsified. Ultimately this creates a devaluation of asset and diminishes user trust.
For more information visit website through #bestforexbrokers.
There have been many attempts before to create a “peer to peer electronic cash system” with the likes of “Flooz” and “Digicash”. Digicash was created in 1989 and one of the reasons for its failure is that they couldn’t overcome the problem of “double spending”. This is a problem where the same digital token/asset can be spent more than once, duplicated or even falsified. Ultimately this creates a devaluation of asset and diminishes user trust.
For more information visit website through #bestforexbrokers.
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