Basically, a cryptocurrency is a digital asset that is represented by unalterable entries that are made in a distributed, shared database or a ledger which is spread out over a network of computers.
Each computer has a complete history of all transactions, and whenever a new transaction occurs, it is added to all the ledgers on every computer. Each computer in the network is referred to as a node, and every transaction is required to be confirmed on each node.
Similar to an Initial Public Offering where a company offers stocks, an ICO is the first time a crypto based company’s coin is available for purchase. They are used for crowdfunding new startups working with blockchain technology.
The legal scenario regarding cryptocurrency varies from country to country and currency to currency. For example, in the United States, it is legal to use Bitcoin for transactions, but the SEC regulations on investment prohibit U.S. citizens to participate in ICOs.
See Top Women in Cryptocurrency Business
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