Which of the following is a feature of cryptocur A) Physical form like paper money B)Regulated by a central authority c)Decentralized nature )) Backed by physical commodities like gold

Question

Which of the following is a feature of cryptocur A) Physical form like paper money B)Regulated by a central authority c)Decentralized nature )) Backed by physical commodities like gold

Answer 1

The correct answer is C) Decentralized nature.Cryptocurrencies are digital or virtual currencies that use cryptography to secure and verify transactions, as well as to control the creation of new units. One of the key features of cryptocurrencies is their decentralized nature, meaning they are not controlled by any central authority such as a government or financial institution. Instead, cryptocurrencies operate on a decentralized network of computers, allowing for peer-to-peer transactions without the need for intermediaries.Option A) Physical form like paper money is incorrect because cryptocurrencies do not have a physical form like traditional paper money. They exist only in digital form.Option B) Regulated by a central authority is incorrect because cryptocurrencies are not regulated by a central authority. They operate on a decentralized network, which means that there is no single entity controlling them.Option D) Backed by physical commodities like gold is incorrect because most cryptocurrencies are not backed by any physical commodities. They are based on mathematical algorithms and cryptography.

Problemas

Which of the following is a feature of cryptocur A) Physical form like paper money B)Regulated by a central authority c)Decentralized nature )) Backed by physical commodities like gold

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