Digital Technology and Payment System

Cryptocurrencies are digital records of certain values stored in digital databases. Or, more simply, cryptocurrency is digital money, created in digital form as a means of digital exchange. They only exist on the internet and are not published by or controlled by the central bank or the state. Precisely because they are not controlled by the central bank, they are not formally money. Just as people have their money in a bank account, so do their cryptocurrencies in their "digital wallet" on one of the websites that provide this service. Each transaction that is made is a highly edited digital record, that is, a file consisting of the amount of cryptocurrency units transferred and certain public and secret keys of the "digital wallets" of the sender and recipient. Keys are passwords that are more complex than the ones we use everyday to get into online accounts, such as email or other applications. Each transaction is signed by the sender with a private key, and the transaction is then validated and recorded online. No one in the network can see the private key, but they can see that whoever really has the private key sent the transaction. The sender's signature ensures that no one can compromise the content of the transaction. That is why it is important to keep private keys offline.

 Keywords: Blockchain, Bitcoin, Currency.