EXPLAINED: What Are Cryptocurrencies & What's Indian Government's Stand? | Cryptocurrency News

EXPLAINED: What Are Cryptocurrencies & What's Indian Government's Stand? | Cryptocurrency News

#RepublicTV #Cryptocurrency #Bitcoin

Cryptocurrency is a form of payment that can be exchanged online for goods and services. To understand cryptocurrency, you need to understand how money works, and what makes these new assets useful, and potentially also usable as currency in the future. First, there was “physical” money – notes and coins. Then came e-Money – the numbers that show in your e-banking apps. Both these are issued by the Government. And then came cryptocurrency, a type of electronic money that is not issued by any Government.

The first blockchain-based cryptocurrency was Bitcoin, which still remains the most popular one. Today, there are thousands of alternate cryptocurrencies with various functions and specifications. Some of these are clones or forks of Bitcoin, while others are new currencies that were built from scratch. Some of the competing cryptocurrencies spawned by Bitcoin’s success, known as ‘altcoins’, include Litecoin, Peercoin, Namecoin, Ethereum, Dogecoin and EOS. Bitcoin was launched in 2009. Watch here –

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