They are built on the blockchain network technology, which ensures transparency and helps track every transaction. Cryptocurrencies are decentralised, meaning that no authority regulates them. They have their own store values, and are designed to use as a medium of exchange for buying goods or services. Cryptocurrency is a digital or virtual coin secured by cryptography, which makes it next to impossible to counterfeit. The big difference is, here there is no owner-issuer and it would, at least in theory, be accepted globally. Basic Attention price as on May 05, 2023, 02:55 PM was Rs 19.49.Įver received a paper token from your next-door paan shop in lieu of a small change, which he would accept the next time you visit him? Imagine that token digitally, and that's your cryptocurrency.
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