Browse Definitions :
Definition

digital currency

A digital currency is a medium of exchange that is generated, stored and transferred electronically. Digital currencies are not typically associated with any country's government or represented in physical forms like the coins and notes of traditional currencies. 

Cryptocurrencies, the most common category of digital currency, are the type that comes to mind for most people when they hear the term. Cryptocurrencies rely on encryption to secure the processes involved in generating units and conducting transactions. They are used similarly to conventional money for purchases online and in person and are accepted by an increasing number of sellers.  

The first widely-adopted cryptocurrency, Bitcoin, relies on blockchain's distributed ledger model to prevent a single point of failure and to ensure that the record of transactions is tamper-proof. Most other well-known cryptocurrencies also use blockchain and the technology is being explored in many industries as a secure and cost-effective way to create and manage a distributed database and maintain records for digital transactions of all types. 

Virtual currencies, another subset of digital currencies, are mediums of monetary exchange that are confined to particular software-based environments. One of the earliest virtual currencies was the Linden dollar of Second Life. 

David Chaum, an American computer scientist and cryptologist, first introduced the idea of digital currencies in his 1983 research paper, "Blind signatures for untraceable payments." 

This was last updated in September 2017

Continue Reading About digital currency

Networking
  • ONOS (Open Network Operating System)

    Open Network Operating System (ONOS) is an OS designed to help network service providers build carrier-grade software-defined ...

  • telematics

    Telematics is a term that combines the words telecommunications and informatics to describe the use of communications and IT to ...

  • packet filtering

    Packet filtering is the process of passing or blocking data packets at a network interface by a firewall based on source and ...

Security
  • three-factor authentication (3FA)

    Three-factor authentication (3FA) is the use of identity-confirming credentials from three separate categories of authentication ...

  • cyber espionage

    Cyber espionage (cyberespionage) is a type of cyber attack that malicious hackers carry out against a business or government ...

  • role-based access control (RBAC)

    Role-based access control (RBAC) is a method of restricting network access based on the roles of individual users within an ...

CIO
  • project charter

    A project charter is a formal short document that states a project exists and provides project managers with written authority to...

  • leadership

    Leadership is the ability of an individual or a group of people to influence and guide followers or members of an organization, ...

  • transaction

    In computing, a transaction is a set of related tasks treated as a single action.

HRSoftware
  • employee engagement

    Employee engagement is the emotional and professional connection an employee feels toward their organization, colleagues and work.

  • talent pool

    A talent pool is a database of job candidates who have the potential to meet an organization's immediate and long-term needs.

  • diversity, equity and inclusion (DEI)

    Diversity, equity and inclusion is a term used to describe policies and programs that promote the representation and ...

Customer Experience
  • sales development representative (SDR)

    A sales development representative (SDR) is an individual who focuses on prospecting, moving and qualifying leads through the ...

  • service level indicator

    A service level indicator (SLI) is a metric that indicates what measure of performance a customer is receiving at a given time.

  • customer data platform (CDP)

    A customer data platform (CDP) is a type of software application that provides a unified platform of customer information that ...

Close