Digital currencies have become a widely known investment and have also influenced traditional currencies, paving the way for a decentralized currency system. While currencies such as Bitcoin and Ethereum experience high fluctuations, the industry as a whole continues to experience steady growth.
Digital currency is any currency that is available exclusively in electronic form. It is only ever exchanged digitally and never leaves a computer network. Most digital currencies are based on blockchain and distributed ledger technology. Blockchain technology ensures the authenticity of individual transactions by keeping an updated record of all transactions that cannot be manipulated. The advantages of digital currencies are fast transactions, automated applications such as smart contracts, and fast cross-border transactions.
To secure the blockchain technology behind digital currencies, there is a requirement for the generation of cryptographic key pairs, support of specific cryptographic algorithms, digital signatures and blockchain assets such as private keys, digital assets, smart contracts, and digital wallets, which in turn, must be securely stored and managed.
Utimaco provides products and applications that improve the security of digital currency transactions and the protection of digital assets.