Name: Meenu Jain, Shailly Chauhan
Country: India

Year: 2022
Volume: Volume-7, Issue-1 (January-June)
Page Number: 5-9

Present era is a digital era. The digital revolution has shown its impact on almost everything which has changed the economy as a whole. Cryptocurrency which is purely a digital currency has emerged as an important financial software system. It is also a medium of exchange just like other currencies. Just like gold, cryptocurrency has turned out to be a new avenue of investment instrument. But unlike traditional currency it is independent of any control by any central authority as crypto currency was designed as peer-to-peer system. The functioning of cryptocurrency is possible using a technique which is known as cryptography. Cryptography is that technique in which readable information is transformed into coding language. These codes are not easy to crack. That is why cryptocurrency is the secure mode of making any transaction. This paper focuses on understanding what cryptocurrency is all about and its impact on the Indian economy.
Keywords: cryptocurrency, bitcoin, digital, virtual payment, exchange, cryptography