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Don and Alex Tapscott, who wrote , said it's an "incorruptible digital ledger of economic transactions." But it's not just transactions that can be recorded by blockchain tech.
With cryptocurrency, parties to an exchange swap virtual cash for goods and services without incurring delays, costly transaction fees, and with fewer complications associated with allowing a third party into your transaction.The base word "crypto" refers to the cryptography that's used to verify transactions and keep the virtual asset secure.Bitcoin was the first successful cryptocurrency after it came online in 2009 as a "peer-to-peer electronic cash system." By allowing people to transact with one another directly, without a middleman, cryptocurrency is highly disruptive and anticipated to grow leaps and bounds in coming years.Bitcoin can support very large transactions while litecoin, invented by a Google employee, is aimed at microtransactions.It's a cheaper form of cryptocurrency than bitcoin and transactions process much more rapidly.