The Future of Money
Cryptocurrency is a medium of exchange, designed for the internet, that uses strong cryptography for executing financial transactions. Most cryptocurrencies use blockchain technology to obtain decentralization, transparency, and immutability.
One of the key features of cryptocurrencies is there is no centralized authority, such as banks, credit card companies, or the Federal Reserve that controls it’s distribution. Thus, making it immune to government control.
Cryptocurrencies can be sent directly between two parties without the need or approval by a third-party, such as MasterCard or Visa. The transactions can be completed with negligible processing fees, allowing users to avoid the steep fees charged by traditional financial institutions.