Cryptocurrencies: The Evolution of Money and Internet

Abstract

Bit coin might be known as the first crypto currency, the truth holds that it has been the first successful attempt towards the path of decentralized world that paved the way for vast technological advances bring forth thousands of coins in the new online world.Based on respective block chains and operated as a peer-to-peer network, its security is guaranteed by cryptographic algorithms instead of the sovereigns of the respective countries and has the potential to become a major means of payment for ecommerce, trading and as it forays into the art world who knows what the future of block chain holds.Instead of serving one country or some countries, block chain serves the entire world.