Crypto curreny is an innovative type of electronic cash payment system, that generates the units of currency based on the principles cryptographic algorithms and the proof of work scheme has been verified by solving complex mathematical problems. The cryptocurrency market value is fixed depend on the cryptographic function and the proof of work scheme used to generate of units of currency.

Cryptocurrencies do not posses physical form. These are created electronically and transferred by peer-to-peer technology between pc to pc and pc to mobile.