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Consider the following statements about cryptocurrencies and identify the incorrect statement:
A cryptocurrency is a basically a digital asset
It uses cryptography to ensure the security of transactions
This is different from cash in that cryptocurrencies have no physical form.
There is a cryptocurrency central bank that issues new currency.
All are correct
* A cryptocurrency is a basically a digital asset that has been created to function as a medium of exchange, like cash. * It uses cryptography to ensure the security of transactions — authentication and prevention of duplicate transactions — and to control the creation of new units of currency.
* This is different from cash in that cryptocurrencies have no physical form. These blur the boundaries between fiat and non-fiat currencies. They are simply numbers on a screen and there is no central bank that issues new currency. However, bitcoin has emerged as the popular face of cryptocurrencies.
By: Munesh Kumari ProfileResourcesReport error
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