Back in 2009, when bitcoin came into existence, even the most optimistic predictions would not have anticipated how much this cryptocurrency would scale to reach its current state. Bitcoin has been in the news for quite some time now; it is one among the thousands of cryptocurrencies that have entered the market, over 4,000 at the last count. Most have few followers, and none of the cryptocurrencies have matched up to the popularity of bitcoin.
What Are Cryptocurrencies?
Cryptocurrencies, also known as cryptos, are defined as digital assets that can be used as a medium of exchange where individual ownership records are stored in a public ledger secured with strong cryptography. Typically, they are decentralized, meaning they are not issued by any central authority like a government …