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see virtual currencyvirtual currency,
a means of payment that is electronically created and stored, more specifically an unregulated electronic medium of exchange that operates like a currency but is created and controlled by computer software; also called digital currency.
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(CRYPTOgraphic CURRENCY) A digital currency in which the transaction of sending money from one party to another is encrypted via public key cryptography. The identity of the sender is thus kept private much like paying for merchandise with cash in the physical world.

In 2009, Bitcoin was the first decentralized cryptocurrency to use a public ledger of its transactions, known as the "blockchain." Since then, other cryptocurrencies have been introduced, including Litecoin, Namecoin, Peercoin, Mastercoin, BlackCoin and Dodgecoin.

Like a Share of Stock
Except for Sharia-conforming OneGram, which is backed by physical gold, the value of a cryptocurrency is based on the market and fluctuates like a share of stock. See Bitcoin, blockchain and public key cryptography.
References in periodicals archive ?
He, she or a group of people is the author of the paper, protocol and software that gave rise to the cryptocurrency.
Goldman Sachs (NYSE: GS) has announced that it has filed a patent for its cryptocurrency system.
The system is used by the cryptocurrency s traders to with no trouble move amounts between accounts no matter the location of the payee.
copyright protected) that allows people to trace and track identities senders and receivers of a cryptocurrency when necessary.
You sort of combine all these things together and you get somebody who recognizes the value of cryptocurrency as a solution to intractable business problems and wants to apply that to Wall Street," Bagley says.
was founded in July 2014 by former banking professional Emilian Tourey, who has seen the opportunity and future financial market development going on the way of technology, while cryptocurrency will flourish.
We're planning on a business that will bring even more value to the cryptocurrency market," declared Paul Goldwin, founder and CEO of BTCFlap.
The Size and Composition of the Cryptocurrency Market
The protocols behind cryptocurrency could be deployed in areas such as real-time transactional settlement
The addition of Litecoin and Dogecoin expands the payment options for cryptocurrency enthusiasts.
Shrad Rao, CEO of Wagepoint payroll firm, said that with the Bitcoin gaining popularity, they came up with the idea of the cryptocurrency payment option specifically geared towards Canadian workers and their salaries.
This comes a bit as a surprise, since bitcoin as an unregulated and -- as of now -- highly volatile cryptocurrency, has no manifestation other than bits and bytes stored somewhere in the virtual space and seems not to be the most reliable means of trade for the world's most sought-after commodity.