What is Digital Currency?

A digital currency is a currency that exists purely in a digital form, without a physical manifestation. Digital currencies possess multiple advantages over their traditional counterparts, including lowered transaction costs, greater transparency, increased transaction speeds, as well as decentralization. Various forms of digital currencies have existed since the late 1980s, but it was not until 2009 that the double-spend problem was solved through the Bitcoin blockchain protocol and the bitcoin (BTC) cryptocurrency.