(CBDCs). These currencies would be based on a centralized ledger managed by the central bank in question. This would enable the possibility for the central bank to manage monetary supply, in the same manner it does in the conventional economy.</p>\n<p><strong>DigiCash,</strong> the first digital currency prototype, was created in the late 1980s. They were plagued by an unsolvable problem known as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-double-spending/">double-spending. 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Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto 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The most obvious example is government recognition, which is utilized for several purposes, including financial access, corporate registration, and, of course, surveillance.</p>\n<p>Traditional identity networks tend to have several issues such as vulnerability to fraud, high risk of attack, and even inaccessibility.</p>\n<p>There has always been a problem in cyberspace with knowing precisely with whom they are engaging. Furthermore, <strong>static identifiers</strong> like passwords and emails have no method of determining identification because the data may be readily stolen or utilized by several people pretending to be one.</p>\n<p>An identity may be verified and authenticated with up to <strong>95%</strong> accuracy. This is done by using digital identification based on dynamic entity connections acquired from behavioral history across numerous websites and mobile apps. Clients often use identification systems to transact online, log in to digital services, and prove their identity to organizations such as workers.</p>\n<p><strong>Blockchain technology can manage to solve many of the issues.</strong> In regards to that, extensive experiments are being performed at the moment into the utilization of blockchain for digital identity applications, and some of these are already in use on an extensive basis.</p>\n<p>For instance, various national authorities are moving their whole identity designs onto the blockchain.</p>\n<p>Also, blockchain technology is far more reliable than current digital identification solutions. While it is now incredibly simple to fake an identity online, blockchain-based identification systems provide ultimate trust in an identity's legitimacy due to the irreversible structure of blockchain-based documentation.</p>\n<p><strong>Blockchain-based digital identities are thought to be particularly valuable for the 11 billion individuals worldwide who lack evidence of identification due to inconvenience and difficulty.</strong></p>\n<p>As a result of a lack of identification, these people are unable to access services such as banking. However, the tremendous rise in popularity of mobile applications provides an opportunity for the creation of more straightforward and free<strong> blockchain-based identity solutions.</strong></p>","level":"medium","meta_title":"What is Digital Identity? Definition & Meaning | Crypto Wiki","meta_description":"Digital Identity meaning: Digital Identity - is the data used to identify a person to a computer or network.","meta_keywords":null,"language":"en","created_at":"2022-03-08T06:27:19.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-digital-identity"},"prevSection":{"id":275,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Digital Commodity?","slug":"what-is-digital-commodity","section":"D","keyword":"Digital Commodity","status":"published","definition":"a product that exists digitally.","content":"<p>There is a huge variety of things that could be referred to as digital commodities. But nowadays, it mostly means <strong>digital currencies</strong>.</p>\n<p>Moreover, the term digital commodity trading can also mean selling physical assets such as gas and oil in a digital manner. However, in this context, the term refers to <strong>the digitization of different elements of the commodity trading chain</strong>.</p>\n<p>For instance, technology can be employed to:</p>\n<ul>\n<li>Automate the protection of particular assets.&nbsp;</li>\n<li>For large-scale data mining aimed at assisting traders in making better investing selections.</li>\n<li>Settlement and documentation.</li>\n<li>Back-office activities like settlement and paperwork can be automated.</li>\n</ul>\n<p>To put things into perspective, digital commodities management is targeted directly at cryptocurrencies. In the U.S., lawmakers signed <strong>the Digital Commodity Exchange Act 2020</strong> to manage the processes of exchange platforms.</p>\n<p>Other policies and guidelines controlling the usage of cryptocurrencies and related operations have emerged swiftly in recent years. It is ranging from New York state's BitLicense to the United Kingdom's prohibition on the selling of crypto derivatives to ordinary investors.</p>\n<p>Since <strong>cryptocurrencies are commodities</strong>, they may be utilized as the foundation for derivatives, which are famous financial instruments whose worth is determined by the worth of a fundamental item. A trader, for example, may decide to engage in a derivatives contract that allows them the option to purchase and sell a particular quantity of cryptocurrency at a specific date or price.</p>\n<p>Many believe that the evolution of derives is very essential for the adoption of digital assets around the world.</p>","level":"easy","meta_title":"What is Digital Commodity? Definition & Meaning | Crypto Wiki","meta_description":"Digital Commodity meaning: Digital Commodity - is a product that exists digitally.","meta_keywords":null,"language":"en","created_at":"2022-03-07T14:51:39.000000Z","updated_at":"2022-12-29T12:42:55.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-digital-commodity"},"currentChapter":"D","currentSection":"what-is-digital-currency","chapterTitle":"D","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-digital-currency","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">