Running Head: Cryptocurrency 1
Cryptocurrency
Ptrabhnoor Singh
Math Fundamentals of Computer Science
St. Joseph’s College
Cryptocurrency 2
Cryptocurrency
Some people say it is the way of the future, some people say it is just a scam, others call
it magic internet money; but what is cryptocurrency exactly, and why is it taking the world by
storm? The most basic definition would be that cryptocurrencies are a medium of exchange.
They are a means of carrying out a transaction digitally, they are virtual currencies completely
independent of government control or any central authority, entity, server and many more. They
are completely their own entity which means you do not have to go through a bank to process a
transaction which is why many people are involving into it. You might ask yourself; if there is
not any banks or authorities involved how a transaction is maintained and verified? how is this
crypto stuff even valuable, and where did even come from? Now let’s talk about what
cryptocurrencies are at their most basic technological level; Bitcoin, Litecoin, Ethereum, Ripple,
