The modern concept of cryptocurrency is becoming very popular among traders. A revolutionary concept introduced to the world by Satoshi Nakamoto as a side product became a hit. Decoding Cryptocurrency we understand crypto is something hidden and currency is a medium of exchange. It is a form of currency used in the block chain created and stored. This is done through encryption techniques in order to control the creation and verification of the currency transacted. Bit coin was the first cryptocurrency which came into existence.
Cryptocurrency is just a part of the process of a virtual database running in the virtual world. The identity of the real person here cannot be determined. Also, there is no centralized authority which governs the trading of cryptocurrency. This currency is equivalent to hard gold preserved by people and the value of which is supposed to be getting increased by leaps and bounds. The electronic system set by Satoshi is a decentralized one where only the miners have the right to make changes by confirming the transactions initiated. They are the only human touch providers in the system.