In a digital age it seems the logical next step for monetary systems to adopt a digital footprint. This next step in the evolution of currency is known as cryptocurrency.
What are cryptocurrencies?
A cryptocurrency is a form of digital currency that makes use of cryptography for information security and anti-counterfeiting purposes. Cryptography, derived from the Greek kryptos (meaning hidden), is the science of information security and uses various techniques to ensure that information sent via digital communication methods remains secure. In layman’s terms, cryptocurrencies are a highly secure digital transaction method.