Cyber Currency Key Benefits And Identification

Cryptocurrency Name Institution Cryptocurrency Write cyber currency key benefits and identification and explanation. Every year, the world is introduced to a new technology, and in 2009, it was introduced to Bitcoin. When it came out, people feared it and few wanted to be associated with it. The term cryptocurrency was new to people, and as is always the case with new inventions, people took time to study it and to wait for its downfall (and some still are). However, over time, people have become increasingly comfortable with it, and in a 2017 Forbes article, Gavril notes that “the market capital of cryptocurrencies was $185,182,008,333 at the time of writing.” Millions have gradually been swayed and have slowly been buying into the idea of there being a financial revolution. Demand for cryptocurrency has indeed been on the rise, and this helps to explain the surging price of Bitcoin in 2017. It is essential to note that Bitcoin is not the only cryptocurrency in the world and a simple Google search will help reveal that. Regardless of the increasing traffic and use of cryptocurrencies in the world, there are still those who believe that it is dangerous and highly volatile. Conversely, there are those who seem to believe that it represents the future of money as we know it. Regardless of the rhetoric, cryptocurrency does provide its users with several benefits, and they are as discussed below: * Decentralization – cryptocurrencies use the blockchain technology, and at any one time, there are a network of computers making use of it to manage global databases which record any and all Bitcoin transactions. This simply means that Bitcoin is not managed centrally. Rosic (2016) further explains decentralization by stating that “the network operates...