What are digital currencies - a beginner's guide

Cryptocurrencies are virtual or digital currencies designed to act as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of any given digital currency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are met.

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There were many attempts to create a digital currency during the technology boom of the 1990s, with systems such as Flows, Beans and DigiCash coming to the market but ultimately failing. There were many, many reasons for its failure, such as fraud, financial problems, and even friction between company employees and their bosses.#Profitfrom the Internet

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