eCurrency Types

There are two major types of ecurrency in the world.The major different is their backed base .One is backed by precious metal such as e-gold, c-gold is backed by gold. Another type of ecurrency is backed by hard currency like Paypal, AlertPay, PayTreck. Both of them are all called ecurrency.

Digital Gold Currencies(DGCs) are a form of Internet money denominated in gold weight.The typical unit of account for such currencies is the gold gram or the troy ounce,although other units such as the gold dinar are sometimes used.Due to its rarity and durability, gold has long been used as a means of payment.The exact nature of the evolution of money varies significantly across time and place,though it is believed by historians that gold's high value for its utility,density,resistance to corrosion,uniformity,and easy divisibility made it useful both as a store of value and as a unit of account for stored value of other kinds.In Babylon,a bushel of wheat was the unit of account,with a weight in gold used as the token to transport value.

Just like the Gold backed Digital Gold Currencies (DGCs). Currency backed Digital Currency is another type of ecurrency but been backed by the hard currencies .Most of those currency backed digital money are backed in USD and EURO for example Paypal, AlertPay, NetPay, SafePay, PayTreck and MoneyBookers.Just like the DGCs the DC has the same key function for using in the internet related commercial applications.

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