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.

Forget oil, Russia goes crazy for cryptocurrency

Standing in a warehouse in a Moscow suburb, Dmitry Marinichev tries to speak over the deafening hum of hundreds of computers stacked on shelves hard at work mining for crypto money.

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.

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.

Microsoft teams with Bank of America on 'blockchain'

Microsoft and Bank of America Merrill Lynch on Tuesday announced they are working together to make financial transactions more efficient with blockchain technology—the foundation of bitcoin digital currency.

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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.

This text uses material from Wikipedia, licensed under CC BY-SA