What is Cryptocurrency?

What Is Cryptocurrency?

MavrodiCoin bring users together in a global community that allows them to mine and use the MavrodiCoin cryptocurrency. Essentially cryptocurrencies are protocols that allow the validation of transactions without the need of a third party such as banks, credit card companies or escrow agents.

In terms of innovation, cryptocurrencies have the potential to impact various aspects of the financial markets and the wider economy. They can dramatically reduce transaction costs, give access to financial transactions and avoid pitfalls in certain monetary systems.

A cryptocurrency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. In the simplest of forms, cryptocurrency is digital currency.