Impact of Cryptocurrency on the Indian Economy
Impact of Cryptocurrency on the Indian Economy Cryptocurrency is a digital or virtual money that uses cryptography for security and is not under the control of a central bank or a government. The first and most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unidentified person or group using the alias Satoshi Nakamoto. Since then, thousands of additional cryptocurrencies have been created, each with unique properties and potential applications. Unlike traditional currency, which is controlled by central banks and governments, cryptocurrencies are decentralized and operate on a peer-to-peer network. Transactions are confirmed by a distributed network of nodes and recorded on a public ledger called a block chain. This makes transactions transparent and immutable, meaning they cannot be altered once they are recorded. Cryptocurrencie...