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cyber money

Cybermoney refers to virtual money, a cryptocurrency, e-money or other means of payment on the Internet. Cybermoney is network money as opposed to e-money, which can also be used as a means of payment with cell phones and on cash cards. Real money can be converted to cybermoney through exchange.

Virtual money can be loaded onto an electronic money card via the Internet; as network money, it does not rely on card systems or the cash card. Cybermoney is traded through credit accounts by sending digital strings exclusively via the Internet or other electronic means.

For the security of the e-money, the strings indicating the currency, scope, amount and issuer are encrypted using standardized encryption methods such as the RSA method. The recipient of Cybermoney can verify the validity and authenticity using asymmetric encryption methods.

Cybermoney can also be used for postings of very small amounts, as occurs in micropayments. The best-known cybercurrency is Bitcoin. All other cryptocurrencies belong to the group of altcoins. For example, Litecoin, Dogecoin, Blackcoin, Freicoin, Neo, Peercoin, Vericoin, Myriad, BitShares, Bytecoin, Namecoin and many others.

Englisch: cyber money
Updated at: 07.07.2021
#Words: 179
Links: virtual, e-money, Internet, network, vertical interconnect access (PCB) (via)
Translations: DE

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