Cryptocurrency is Our Future Currency

Perspective – Cryptocurrency Is Our Future Currency
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Introduction
Introduced a few years ago, cryptocurrency has become a major topic of discussion across the globe. Cryptocurrency is a digital asset and a medium of exchange in various types of transactions using cryptography. The medium of exchange also helps in the control and creation of extra currency units. Bitcoin, as the first cryptocurrency, was introduced in 2009. Since then, several types of cryptocurrencies have been introduced, including Litecoin (LTC), Ethereum (ETH), Ethereum Classic (ETC), Zcash (ZEC), Stellar Lumen (XLM), and Bitcoin Satoshi's Vision (BSV) (Georgiou, 2020). All these cryptocurrencies are part of a decentralized and distributed digital cash and are measured using a digital ledger called the blockchain transaction database. The current trends and advancement of cryptocurrency indicate that cryptocurrency is likely the Future Currency.
How Cryptocurrency Work
As the most encrypted and decentralized digital exchange, cryptocurrency will likely determine the future of money. Cryptos serve as a future medium of exchange where transactions will be recorded in the blockchain, and the process of tracking the digital currency in the blockchain is considered mining. Ideally, cryptocurrency does not require banks for a transaction to take place (Rahman & Dawood, 2019). But like a physical coin, it has value and can be used to purchase goods and services as a well-growing investment. Cryptocurrencies are traded from one's wallet to the other and stored in the cloud.
Bitcoin is highly safe, and creating generic bitcoin is difficult, reducing the risks of system manipulation. Cryptocurrency transaction is confirmed through a private k...