TRANSACTIONAL PROPERTIES OF A TYPICAL CRYPTOCURRENCY: VIRTUAL GOLD
Cryptocurrencies are built based on the concept of cryptography. They are neither secured by people nor trust; math secures them. The properties of cryptocurrencies fall into either the transactional properties or the monetary properties. In this article, I would be focusing on the transactional properties of cryptocurrencies.
Firstly, every transaction of Virtual Gold is propagated nearly instantly despite that they happen in a global network of computers located at different physical locations. It doesn't matter if you are sending Virtual Gold to someone in Africa or someone next door, it's instantaneous. And let me add this, you don't need permission from anyone to transact Virtual Gold, a gatekeeper does not exist.
Virtual Gold is secured using the cryptography system. Only you and you can send Virtual Gold out. And the most amazing part is that neither your transactions nor your accounts are connected to your real-world identity. It is completely pseudonymous. And lastly, after the confirmation of a transaction, the transaction becomes irreversible. Yes, it cannot be reversed by anyone, not even you nor Igoldtrade.
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