Last Week in Cryptocurrency: Following economic sanctions imposed by the EU and other countries on Russian entities, there is speculation that these entities may utilize cryptocurrencies to facilitate transfers of money outside of the traditional banking system. Elsewhere in the world, a Brazilian government bill which would regulate certain aspects of the cryptocurrency market has advanced to a vote on the country's Senate floor.
Bitcoin has not only been a trendsetter, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network, but has also become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs.
KEY TAKEAWAYS
- A cryptocurrency, broadly defined, is a form of digital tokens or “coins” that exist on a distributed and decentralized ledger called a blockchain.
- Beyond that, the field of cryptocurrencies has expanded dramatically since Bitcoin was launched over a decade ago, and the next great digital token may be released tomorrow.
- Bitcoin continues to lead the pack of cryptocurrencies in terms of market capitalization, user base, and popularity.
- Other virtual currencies such as Ethereum are helping to create decentralized financial
Post a Comment