kskb.dev/data · documents with their text · this document in the catalog

cryptocurrency [ noun ]

glossary term · license Apache-2.0 · 860 characters · the original · source wot-terms

cryptocurrency [ noun ]

AI–generated Summary

A digital asset that serves as a medium of exchange, with individual coin ownership records stored in a digital ledger.

Definition

A digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a digital ledger or computerized database using strong cryptography to secure transaction record entries, to control the creation of additional digital coin records. See more on source Wikipedia.

KERI related

KERI doesn't need total global ordering, whereas cryptocurrencies do need this. As a consequence has been designed, without the need of a consensus-based distributed ledger (blockchain).

KERI doesn't provide for a currency system, however a KERI-based system can be easily extended with a money - or token system.

See also Non Fungible Tokens.

KERI Suite Glossary, https://weboftrust.github.io/WOT-terms/docs/glossary/cryptocurrency. Licensed under the Apache License 2.0; the license and any notices are in the repository. Found through KERISSE. The abstract, the level and the labels on the catalog entry are the KERISuite Knowledge Base's own, CC BY 4.0.