Understanding the Cryptocurrency, Its Proliferation and Prospects in India

Understanding the Cryptocurrency, Its Proliferation and Prospects in India
Author(s):
Hitesh Sharma, Yogesh Kumar, Manoj Mittal, Dr. Nitin Arya
Keywords:
altcoins, bitcoin, blockchain, cryptocurrency, cryptography, meme coins
Abstract
A cryptocurrency or crypto is blockchain based digital currency; it is basically a collection of binary data, designed using cryptographic methods to make it safe and secure. It is designed to work as a medium of exchange to buy goods and services, and the record of all such online transactions is maintained in decentralized online ledgers. Though; it is unregulated in most of the countries, but due to its secure, transparent and anonymous nature, it gains immense popularity and hype. It is being traded for profits and now emerged as a lucrative medium of investment. The speculative nature of crypto makes it very volatile and prices of the crypto show frequent ups and downs. This study focuses on understanding the cryptocurrency as well as its evolution and proliferation in India.
Article Details
Unique Paper ID: 153881 Publication Volume & Issue: Volume 8, Issue 9 Page(s): 149 - 154
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