This open-source Immediate Edge cryptocurrency was launched in April 2014 and soon spiked great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. Launched in 2014, Tether describes itself as "a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner."

Funds sent to a wrong address cannot be traced back and result in loss of all the transferred money. A highly volatile nature, huge price change over a short period, of crypto poses a serious question to consider it as a future currency.

The two other cryptographers from Britain had no history with large software projects. Still, Lewis Solomon, a professor emeritus at George Washington University Law School, who has written about alternative currencies, argues that creating bitcoin might be legal. “Bitcoin is in a gray area, in part because we don’t know whether it should be treated as a currency, a commodity like gold, or possibly even a security,” he says.

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