Abstract
Cryptocurrencies are a sort of digital money created and managed through the use of advanced encryption techniques known as cryptography. This paper has made a simple explanation of cryptocurrencies (particularly Bitcoin) as well as an attempt to make some future assumptions regarding such virtual currencies with the aid of previous literature and published online sources. The various aspects of these virtual currencies are yet to be discovered in detail, but the author hopes that this simple, basic and narrative paper will be helpful to those seeking basic references regarding this newest issue.
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