Asked by Janiel Samuels on May 04, 2024
Verified
Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is
A) not issued or backed by any government or bank.
B) subject to special digital transaction fees.
C) risk-free.
D) required to be accepted in payment or exchange.
Digital Wallet
A digital system that allows individuals to make electronic transactions using a computer or smartphone, including storing various forms of currency and cards.
Public Keys
Part of a cryptographic system used in digital communication that allows users to securely exchange data over an insecure network.
Private Keys
Cryptographic keys used in public-private key encryption schemes that are kept secret and used to decrypt information or digitally sign data.
- Differentiate between virtual and real currencies in terms of government backing and storage mechanisms.
Verified Answer
ZK
Zybrea KnightMay 09, 2024
Final Answer :
A
Explanation :
Virtual currency is not issued or backed by any government or bank, distinguishing it from traditional currencies that are typically regulated and supported by national governments or central banks.
Learning Objectives
- Differentiate between virtual and real currencies in terms of government backing and storage mechanisms.