What is the Function of Virtual Currency?


"What is virtual currency and how does it work?"

2023-06-09 06:25

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Virtual currency is a digital representation of value used as a medium of exchange or a store of value. It operates independently of a central bank and is exchanged directly between individuals or businesses using advanced encryption techniques. Virtual currency is typically created through a process called mining, where powerful computers solve complex algorithms to validate transactions and create new coins. It is often used as a means of payment for online transactions and is increasingly being accepted by merchants worldwide. However, its value can be highly volatile and is subject to legal and regulatory scrutiny in many jurisdictions.

Release time 2023 06 09

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