Backup refers to the process of making copies of data or data files to use in the event the original data or data files are lost or destroyed. Secondarily, a backup may refer to making copies for historical purposes, such as for longitudinal studies, statistics or for historical records or to meet the requirements of a data retention policy. Many...
Cryptocurrency is a type of digital currency that is based on cryptography. Cryptocurrency uses cryptography for security, making it difficult to counterfeit. Public and private keys are often used to transfer the currency from one person to another.
Cryptocurrency is considered a counter-culture movement related to cypherpunks, who advocate the use of cryptography as a route to social and political change. Cryptocurrency presents a form of this movement in that it is essentially a fiat currency, which means it only has value if people agree to such and use it as a medium of exchange. However, because it is not tied to any country, its value cannot be affected by a central bank. In the case of Bitcoin, the most prominent functioning example of cryptocurrency, its value is determined by supply and demand in the market. As such, this currency behaves much like gold and other precious metals.
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