Virtual Currency is a form of digital currency that only exits in an electronic form and not in any physical form. Unlike traditional money or fiat currency, virtual currency does not rely on a banking authority.
Virtual currencies were originally meant for online games and entertainment. These are mostly centralized, and its control is in the hands of the developer.
In 1998, Wei Dei, a computer engineer developed ‘B –money’ – a concept on a decentralized payment system. Taking that idea forward was Nick Sabzo who suggested employing cryptography to facilitate the generation of ...
