A crypto currency is a digital resource which act as a medium of exchange that uses cryptography to make its transactions secure. Cryptocurrencies are subset of digital currencies. In this economic world, different number of virtual currencies available over the internet. A new digital currency may create at any time. By market capitalization, Bitcoin is the largest blockchain network followed by many other cryptocurrencies like Ripple,Ethereum,Cardano and Litecoin.
Bitcoin, was created in 2009, first decentralised crypto currency, since then only the numerous other crypto currencies have been created. These are frequently called altcoins. Bitcoin and its products use distributed financial control as opposite to centralised electronic money/central banking systems. The distributed system uses the blockchain transaction using distributed ledger. Today cryptocurrencies have become a globally trending economic phenomenon known to most people, banks, governments and many companies are aware of the importance. Bitcoins were in the news recently after a massive global ransomware attack “WannaCry‟‟ which hit systems in over 100 countries. To unlock the affected devices cybercriminals demanded a fee of about $300 in cryptocurrencies like bitcoin.
BITCOIN AN EMERGING TREND IN CRYPTOCURRENCY