Cryptocurrencies are decentralized virtual currencies. The best known are without a doubt Bitcoin and Ethereum. Using blockchain, a decentralized database technology, cryptocurrencies enable their owners to transact with each other, without intermediaries. The word cryptocurrency comes from the fact that blockchain technology is cryptography, thanks to which no individual can compromise this type of database.
Cryptocurrencies have several advantages, including reduced transaction costs for intermediaries such as banks, as well as independence from central bank policies and, therefore, monetary policies. They also come with some drawbacks that should not be overlooked: they are prohibited in certain countries and can often be very volatile, in particular because of the speculation around them.
Synonymes: cryptographic currency, crypto-money
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About The Author: Julien Brault
Julien Brault a vulgarisé la finance pendant des années au journal Les Affaires, où il a été journaliste avant de fonder Hardbacon. C'est un auteur et un rat de bibliothèques; il a d'ailleurs fondé une maison d'édition qu'il a vendu en 2010 pour un montant confidentiel (lire très petit). Quand il n'est pas en train de travailler pour améliorer le capitalisme, il travaille sur l'amélioration du capitalisme.
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