In today’s era, the world is not just limited to what we can see with our naked eye. With human intelligence, and with the advancement of technology, we have already created a world which exists through digital apparatus, like computers and such. One of the testaments to how well-developed this virtual world is, is through the development of Cryptocurrencies, which makes questions like “What is DasCoin?”, among others spring up. There are several cryptocurrencies that have sprung up, with DasCoin being poised as the emerging one. If you have plans on getting an account, these are some things you need to know.
What exactly is it?
A cryptocurrency is essentially another kind of currency in itself. Just like a traditional “fiat currency”, which is exactly what the currencies of countries are, it can be used in the facilitation of exchange of goods. It is only, however, available for use in the “virtual”, or internet world. The transactions take place in encrypted channels, where the currency travels from one virtual “wallet” to another.
Their biggest difference compared with traditional currencies is their being “decentralized”, which means that the value is controlled, not by a central body like a bank or the government, but among the ones who use it. This is the cause for it to be relatively less stable in terms of value, due to the fact that it is solely dependent on supply and demand.
What allows them to have a value?
Its being fungible, as well as its scarcity, as well as its easy transferability and the easiness to verify all contributes to its value. Apart from all this, a mutual agreement between the consenting parties allow its use as a medium of exchange all contribute to it being a currency with value.