The world’s largest social networking site, facing data leak charges, is in the news of Facebook becoming a crypto currency. According to media reports, Facebook is going to introduce its currency soon, allowing users to transfer money through the service such as Messenger, Instagram and WhatsApp. Not only this, Facebook is thinking of adding blockchane-based user authentication feature soon.
Recently, some of Android’s Android and iOS users of Facebook found new ‘Pay with Facebook’ option while using Facebook. Italian Facebook users who had chosen their local language, Italian, told that they had the option to set up Pay a Facebook account while using the application.
It is a currency that is based on computer algorithms. It is an independent currency, which has no owner. At the same time, this currency is not in control of any authority i.e. its operation is not done by any state, country or government. It is also known as Digital Currency, Virtual Currency, Internet Currency, E-Currency and People’s Currency.
The first crypto is the currency bitcoin, which in 2009 had developed a Japanese engineer named Satoshi Nakamoto.
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