Decoded: What is a cryptocurrency and how does a blockchain work? – Business Standard

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 is likely to be tabled in Parliament soon. While details of the Bill are not yet known, various voices from within the government have talked about imposing a blanket ban on cryptocurrencies or experimenting with them or allowing them in only limited and closely monitored scenarios.

But what is this currency thats making the world go round? To know, lets get back to basics. What is a cryptocurrency? Its a virtual currency. Every crypto-coin is a unique code, like the serial ...

Key stories on business-standard.com are available to premium subscribers only.

MONTHLY STAR

Business Standard Digital Monthly Subscription

Complete access to the premium product

Convenient - Pay as you go

Pay using Master/Visa Credit Card & ICICI VISA Debit Card

Auto renewed (subject to your card issuer's permission)

Cancel any time in the future

Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.

Requires personal information

SMART ANNUAL

Business Standard Digital - 12 Months

Get 12 months of Business Standard digital access

Single Seamless Sign-up to Business Standard Digital

Convenient - Once a year payment

Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted

Exclusive Invite to select Business Standard events

Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, March 20 2021. 06:10 IST

Read the original post:
Decoded: What is a cryptocurrency and how does a blockchain work? - Business Standard