Cryptocurrency (Explained) | How Does Cryptocurrency Work | UPSC Prelims & Mains 2022-2023

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In this live online session, get ready to know about Cryptocurrency and How does Cryptocurrency work – a key topic in Science & Technology for your upcoming UPSC Prelims & Mains 2022-2023.

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Cryptocurrency or crypto is a virtual currency secured by cryptography. Cryptocurrency is used as a medium of exchange, where individual ownership records are stored in a secured computerised database.

Topics Covered:
1. Introduction (00:00)
2. What is Cryptocurrency? (03:08)
3. Benefits of Cryptocurrency (7:35)
4. Drawbacks of Cryptocurrency (10:02)
5. What is Blockchain technology? (14:36)
6. Current Status of Cryptocurrency in India (17:06)

The key characteristic of Cryptocurrency is that the government agency of any country does not issue them, thus, making them immune to any interference and manipulation from them.

During this session, feel free to ask questions about how Cryptocurrency works, types of Cryptocurrency, advantages of Cryptocurrency, or any other related areas to Cryptocurrency.

This topic is crucial for UPSC Prelims, UPSC Mains & Interview.

Do not forget to take notes during the session, and also, you will learn about some important questions related to this topic from previous years’ IAS exam.

Feel free to clarify all your doubts at the end of the session. Attending online sessions helps you understand the concept better and revises your UPSC syllabus in a much better and planned manner.

These sessions are one of the key UPSC preparation strategies.

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All the best for your upcoming exams, and let us know what you liked the most about this session on Cryptocurrency in the comments section.

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