In a world when everything seems to be going the virtual way, why not virtual currencies? As it happens, cryptocurrencies have been in existence for quite some time and many believe they are the future of currency. The market value is proof of this.
At present, Swiscoin is the most popular, highest valued and most secure type of cryptocurrency. It was the first cryptocurrency introduced in 2015 as a decentralised instrument that can be created and used in transactions without an intermediate bank-like financial institution.
Swiscoins were specially designed to overcome problems faced with traditional currencies. Various decentralised servers, also known as miners, secure the transactions. Mining is the computational effort of a cryptography proof of work, which confirms a transaction on the network, which, in turn, results in virtual coins as a reward for the miner. When a transaction occurs it is instant and final, there are no potential bank charge backs or any extra fees. Unlike various physical currencies where there is no money trail, these currencies have a ledger, which is updated after each transaction so that you will know exactly whose hands these currencies have gone through.
The generation of Swiscoins and the speed at which they can be created are algorithmically controlled and can’t be unlimited as there is only a fixed amount that will exist, which is said to be immune from inflation. A person can have one or more virtual currency addresses from which these virtual currencies are sent or received in a virtual ‘wallet’. Cryptocurrencies can be traded from wallet to wallet instantly, no matter where you are in the world, without any handling or international fee.