Cryptocurrency:importance and impacts

crptocurrency is a medium of exchange created and stored electronically in a blockchain utilising encryption techniques to control the creation of monetary units and to verify the transfer of funds.when someone request a transaction, its is broadcast on peer to peer netork consisting of computers known as nodes.
the cryptocurrency transactions are settled immidiately without any third party approval.they also do not incur any transsaction fee since the miners are copensated by the network.other than bitcoin some important and widely used crryptocureny
-lifecoin

-ethereum

-zcash

-dash

-ripple

-monero

IMPORTANCE
the cryptocurrency market capitalisation has suspased $200 billion. according to a report by motely fool,the aggeregate market cap of cryptocurency has grown by 810% in the year 2017.the world wide trend has shown that cryptocurrency has cannibalised the demand of gold as investors are turning towards former