Zcash, the virtual money making its mark

Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.

Bitcoin's 'blockchain' tech may transform banking

The technology that drives the shadowy cryptocurrency bitcoin is drawing interest from the established banking industry, which sees a potential to revolutionize the sector.

Another large-scale cyberattack underway: experts

Another large-scale, stealthy cyberattack is underway on a scale that could dwarf last week's assault on computers worldwide, a global cybersecurity firm told AFP on Wednesday.

Cryptocurrency rivals snap at Bitcoin's heels

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.

Bitcoin dispute results in split-coin

A dispute among developers of virtual currency Bitcoin gave birth Tuesday to a new version of the crypto coin after they failed to agree on software changes.

Bitcoin better than the dollar?

The name cryptocurrency does not inspire trust. Advanced statistical analysis for the Bitcoin market carried out at the Institute of Nuclear Physics of the Polish Academy of Sciences in Cracow, however, has not shown any ...

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Currency

In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of bank deposits (sometimes called deposit money), ownership of which can be transferred by means of cheques, debit cards, or other forms of money transfer. Deposit money and currency are money in the sense that both are acceptable as a means of payment.

Money in the form of currency has predominated in human civilizations from about 10,000 BCE on. Usually (gold or silver) coins of intrinsic value (commodity money) have been the norm. However, nearly all contemporary money systems are based on fiat money – modern currency has value only by government order (fiat). Usually, the government declares the fiat currency (typically notes and coins issued by the central bank) to be legal tender, making it unlawful to not accept the fiat currency as a means of repayment for all debts, public and private.

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