Is EGX a cryptocurrency?
A cryptocurrency, crypto-currency, or crypto, is a digital currency designed to work as a medium of exchange in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority. Most cryptocurrencies are not backed by any real-world asset, aside from stablecoins such as Tether (USDT), which are often backed by a fiat currency such as USD. Cryptocurrencies are often issued and maintained by anonymous participants, and are generally unregulated.
Aside from BTC, which is often referred to as "digital gold" due to its relative scarcity and use as a value store, and ETH, which is the native token of the Ethereum network that powers much of the wider decentralised finance (DeFi) ecosystem, many cryptocurrencies have little intrinsic value and may be expected to trend to zero over time.
EGX is not a cryptocurrency, but is a tokenised security representing the equity of Enegra, backed by the balance sheet of the company. As a security, EGX has intrinsic value and is regulated, but uses the same technology and has the same advantages as a cryptocurrency.
Aside from BTC, which is often referred to as "digital gold" due to its relative scarcity and use as a value store, and ETH, which is the native token of the Ethereum network that powers much of the wider decentralised finance (DeFi) ecosystem, many cryptocurrencies have little intrinsic value and may be expected to trend to zero over time.
EGX is not a cryptocurrency, but is a tokenised security representing the equity of Enegra, backed by the balance sheet of the company. As a security, EGX has intrinsic value and is regulated, but uses the same technology and has the same advantages as a cryptocurrency.
Updated on: 18/08/2023
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