IGNOU BCOS 184 2026 - What are the features of virtual currency? Mention why distributed led

Question

What are the features of virtual currency? Mention why distributed ledger technology (DLT) is used for these transactions.

12 Feb 2026

Answer :

Word Count : 267

Virtual currency, also known as digital currency, is a form of money that exists only in electronic form and is not issued or regulated by any central authority like a government or central bank. One key feature of virtual currency is decentralization, meaning it operates independently of a central authority, reducing the need for intermediaries in transactions. Another feature is security, achieved through cryptographic techniques that protect transactions from fraud and unauthorized access. Virtual currencies are also highly portable, allowing instant transfers across borders without

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