The financial industry has recently undergone a revolutionary change with the introduction of digital currencies. In contrast to conventional coins and banknotes, digital currencies are available in electronic form and can be used online, eliminating geographical boundaries, and enabling frictionless cross-border transactions.
Digital currencies are built upon decentralized technology like blockchain, which encourages security and transparency and removes the intermediary who facilitates the transactions.
This paper focuses on digital currencies, various wallet types, transaction security methods, and challenges experienced by developers and customers.
