Analysis of the utility of Virtual Currency & Cryptocurrencies in the Indian Economy

Abstract

This research article is presented to analyze the utility of virtual currency and cryptocurrencies in the current Indian economy. Virtual currency, cryptocurrency, etc. in the above context. Cryptocurrency is a collection of binary data that serves as a medium of exchange that has been created. Records of ownership of individual coins are consolidated into a consolidated ledger, to keep a secure record of transactions made, to strictly control the manufacture of coins, and to verify the transfer of coin ownership Databases encrypted using strong cryptography is usually encrypted, as they have no backup or can't be changed. Some Crypto Wachtledetter plans to retain cryptocurrency owners in a proof-of-stake model, with their tokens held as collateral.