Cryptocurrency

  • Formal
  • Cryptocurrency is an alternative, digital, and virtual currency that uses cryptography to process and control transactions, as well as to create new units.
  • Practical
  • Contrary to currencies controlled by central banks, cryptocurrencies are managed in a decentralized and transparent fashion by its underlying network nodes. This is accomplished via the Blockchain, which is a distributed database, acting as a distributed ledger.Bitcoin is the most prominent example for a general cryptocurrency, whereas in the IIoT domain IOTA / MIOTA has been developed specifically with running transactions in the internet of things in mind.
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