Digital currency payment transfer in order to facilitate easy payment and give the payee more confidence in not letting go of their electronic wallet during the transaction. A cryptocurrency is a type of digital asset that relies on cryptography for chaining together digital signatures of asset transfers, peer-to-peer networking and decentralization. In some cases a proof-of-work or proof-of-stake scheme is used to create and manage the currency. Cryptocurrencies allow electronic money systems to be decentralized. The first and most popular system is bitcoin, a peer-to-peer electronic monetary system based on cryptography. A virtual currency has been defined in 2012 by the European
Digital gold currency used to back the digital gold currency it issued. Before the year was out, the 1mdc website was no longer accessible. E-Bullion was a digital-gold currency exchange that had risen, then become defunct around 2008. In August 2008, James Fayed, the owner and chief executive official of the E-Bullion Company, was taken into United States Federal custody to face felony charges of conducting unlicensed money transactions and the murder of his business partner. Shortly thereafter, the website ceased to be available. As a consequence of these charges, by January 2010 the U.S. Government had seized all of the assets of