Other virtual currencies like bitcoin

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The Wall Street Journal. One of the first digital coins patented in the US. Its value is based on its popularity at a given time, which is influenced by factors such as the number of people using it, the ease with which it can be traded or used and the perceived value of the currency and its underlying blockchain technology. Anoncoin creation and transfer is based on an open source encryption protocol and is other virtual currencies like bitcoin managed by any central authority. Blocks are then added to a blockchain where they can be used for electronic peer-to-peer payments.

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