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What is an Industry Based Cryptocurrency?

When dealing with a fiat currency, the currency builds up into larger and larger units. Each of these units has a different case use. Take for example the US Dollar. There are pennies, nickels, dime, quarters, one dollar bills, five dollar bills, ten dollar bills, twenty dollar bills, and one hundred dollar bills. Each of these units have different uses. For example no one is going to go spend a thousand dollars on a computer and pay for it with pennies. No one is going to go and try to by a pack of gum and pay for it with hundred dollar bills. In both instances, they would find the retailer would refuse their payment in most instances. Continue reading What is an Industry Based Cryptocurrency?