A defining feature of a crypto-currencies, and arguably their most endearing allure, is their organic nature; they are not issued by any central authority (Governments or Central banks), rendering them theoretically immune to government interference or manipulation. Furthermore; the anonymous nature of crypto-currency transactions makes them well-suited for a host of commerce and transactions.
The first crypto-currency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of 2nd half of 2018, the total market value of Bitcoin is over $100 billion. Bitcoin’s success has spawned several competing crypto-currencies named Altcoins (Alternative currencies), such as Ethereum, Ripple, Dash and many more.
Advocates for Cryptocurrencies strongly believe that it will enhance the transfer of funds between two parties; these transfers facilitated using public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and other financial intermediaries or wire transfers.