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Bitcoin and Cryptocurrencies Explained in One MinuteA cryptocurrency is a digital or virtual currency secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. This is an economics project which states you about what are the main differences between paper notes and digital currency. Take as given the design of the cryptocurrency system: 1. How well does it function as a payment system? 2. How to optimally set policy parameters? e.g.