Gibraltar could become a driver of DIGITAL CURRENCIES

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 Thursday, October 14, 2021 - 09:06

SPECIAL REPORT by PETER TABERNER
Cryptocurrencies are effectively virtual or digital currencies that are secured by cryptography, many are decentralised networks that are based on blockchain technology.


Bitcoin is the most renowned crypto currency, but there are others on the market such as Ethereum, Ripple, Bitcoin Cash and LiteCoin.
Essentially block chain is a decentralised distributed ledger of transaction, that can be distributed and duplicated across a network of computer systems on the blockchain.
It has advantages in that it is a secure system, making it difficult to change, hack into or even cheat the system.
For every block on the chain there are a number of registered transactions, and every time there is a new transaction on the blockchain, a record is then added to every participant’s ledger.

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