Currency is a medium of exchange for goods and services.
In a traditional sense it is money, in the form of paper or coins, usually issued as fiat currency by a government and generally accepted at its face value as a method of payment.
But this is not the same case when talking about digital cryptocurrencies were there is no physical coin or paper involved as medium of exchange and no central authority backing or minting the coins. Instead with cryptocurrency the monetary policy is enforced by the blockchain and its users instead of any central party.
Last updated on 3 months ago
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