BitCoin, the Future of Currency
Bitcoin, as we all hear nowadays is a form of crypto-currency. Crytography is science that provides security on the data, by encryption and decryption, and ensuring data integrity. If applied to money, we get a currency that is secured and has integrity from fraud. Money is a legal tender and applying the power of internet in financial transactions results in faster and cheaper transactions. Currency is a limiting factor in global trading, as the currency differs in almost every country. US dollar, which is becoming an internationally accepted currency is not exempt from the processing fees for payments and transactions. There is always a charge to use a payment facility of banks and financial companies. Money remittances charged an amount for every transaction made.