This revolution began in 2009, where the first electronic currency known as cryptocurrency, came into existence in its first birth of currency known as BITCOINS, which was launched by mysterious developer named, Satoshi Nakamoto. The fact is the real identity of the developer and the origin of this revolution is still a mystery and many investigation bureaus are still in search of unfolding this mystery for how to get bitcoins. Bitcoins use peer to peer technology to initiate instant payment.
Basically, bitcoins are used as currency to secure your money and use it towards any transaction which supports bitcoin or any other online currency exchange websites. Bitcoins offer lower transaction fees than traditional online payment process and it’s operated by a decentralized authority or non-government issued currencies. There are no physical token or cash system for this currency, as balances are stored and maintained safely in ledger in the cloud storages and bitcoin transactions are verified by a massive amount of computing power associating with high level of computer process and internet security on every account holders, ensuring safety towards their money in the account.
Till now, no one has totally accepted this currency as part of world currency. Whereas the U.S has partially accepted this currency by keeping its limitation only towards trade and stock business, but it won’t accept as part of world currency as it will drop the economy and can create a major economic crisis all over the world due to having highest exchange rate as compared with every currency of the world.