![]() All transactions are systematically validated by each component of the network. Blockchains are distributed ledger systems where each node of the system is linked together in a peer-to-peer network. The term cryptocurrency refers to digital ‘coins’ or assets that are based on block-chain technology. This is particularly when media activity may focus primarily on a small minority of early investors who have achieved financial gains, largely due to historical factors (e.g., buying Bitcoin in 2013) or holding coins well before the onset of periodic bull cycles. This growth in cryptocurrency value, increasing investor interest and media attention has raised some media commentary about whether the general community might be fully aware of the risks or harms that might be associated with this activity. The price of Bitcoin (BTC), the leading currency, has increased in price from $9500 (June 2020) to a peak of $58,000 in February 2021, with similar exponential growth observed in Ethereum (ETH) and numerous other ‘altcoins’ (coins other than Bitcoin). Total market capitalisation (total coins x market price) has now reached 1.75 trillion $US in February 2021 after having been $550 billion in December 2020 and $275b in June 2020. Growth in retail investors (from the general population) is paralleled by growth in the cryptocurrency market itself. So rapidly is this growth occurring that figures reported as recently as three months ago are already significant under-estimates. ![]() ![]() The current global population of crypto-currency (crypto) buyers and sellers is now estimated to be over 106 million (, 2021). Surveys conducted by major exchanges (e.g.,, 2021 Independent Reserve, 2020) suggest that hundreds of thousands of people are signing up to exchange platforms each month. Introduction: The nature of cryptocurrencyĬryptocurrency trading appear to be one of the fastest growing markets in the world. ![]()
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