This concept was first described by wei dai in the year 1998 on the cypherpunks mailing list wherein he proposed the idea of a new form of money that uses cryptography to control its creation and transactions rather than with a central authority. Insights has redefined the way preparation is done in upsc civil service exam.
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Cryptocurrency is a digital currency for which encryption techniques are used to regulate its use and generate its release.
Cryptocurrency upsc. Latest current affairs in july 2020 about cryptocurrency. Bitcoin is the maiden implementation of a concept known as cryptocurrency. In recent years cryptocurrency is fastly becoming the part of.
Important topics for upsc exams in news for. Instead it relies on the power of internet to guarantee its value and. Unlike flat currencies like inr usd eur etc cryptocurrency is not regulated or controlled by any bank government or centralized financial authorities.
Recently the supreme court struck down a circular of reserve bank of india which bans financial institutions from enabling deals in digital or cryptocurrencies. It is a digital or virtual currency that uses cryptography for security. Crisp news summaries and articles on current events about cryptocurrency for ibps banking upsc civil services.
The ban that came into force in april 2018 had crippled the indian cryptocurrency industry. Today insights is synonymous with upsc civil services exam preparation. Cryptocurrency has been defined as any information or code or number or token not being part of any official digital currency generated through cryptographic means or otherwise providing a digital representation of value which is exchange with or without consideration with the promise or representation of having inherent value in any.
Cryptocurrencies are in news for many reasons. A cryptocurrency is a digital or virtual currency that uses cryptography for security. This ban was challenged by the internet mobile association of india iama in the supreme court the iama pleaded that dealing and trading.
The price of bitcoins has been rising continuously for some time now. Cryptocurrencies use decentralized technology to let users make secure payments and store money without the need to use their name or go through a bank. The price of cryptocurrency has surged rapidly trespassing several thresholds one after the other.
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