The Economics of Digital Currency: World of Crypto Currency

Abstract

Crypto currency is a form of asset which exists in digital form that is in binary format and it comes with the right to use. In this context digital asset is being referred to national currency which is used as a medium of exchange. This transaction is secured using cryptography. Crypto currency acts as digital token that uses cryptography for exchanging digital signatures of token transfer, peerto- peer networking and decentralization. Some of the popular crypto currencies available for trade in online market are Bitcoin, Namecoin, Litecoin, Peercoin, etc. The present study will further help in understanding the pros and cons of digital money and how it can be madae more secure.The paper explores many aspects of Crypto currency platforms attempting to answer the main questions of this research which are "Will Crypto currency be the next currency platform? Are virtual currency platforms safe enough to be used?" It investigates different Crypto currency platforms in order to provide deep insight about mechanisms of implementing, controlling, issuing, spending and exchanging Crypto currencies alongwith studying the impact of demonetisation on Cryptocurrency