By Anmol Kaur Bawa, Symbiosis Law College, Pune.
Virtual Currency: the How and What
The modernistic approach to virtual currency often called “crypto”currency is the evolution of digital, intangible and computational currency which individuals can use for online purchases and in a plethora of digital transactions. The flabbergasting concept as such has thrived, on the notion of “trust” and “transparency”. Cryptocurrency embodies an electronic payment system based on “cryptographic proof” that shall encrypt the detailed history of all the transactions of a user, allowing the two parties in a random transaction to gain enough trust to transact directly without the need for the involvement of a third financial institute. Continue reading