Final answer:
The main difference between electronic payment systems and cryptocurrency is the absence of a middleman in transactions. Cryptocurrencies operate on a decentralized network, with their values influenced by market supply and demand.
Step-by-step explanation:
The main difference between an electronic payment system and cryptocurrency is not having a middleman between the sender and receiver. While electronic payments often involve banks or other financial institutions to process transactions, cryptocurrency operates on a decentralized network that allows for direct peer-to-peer transfers without the need for an intermediary. These digital currencies are powered by blockchain technology, which maintains a secure and transparent record of all transactions.
One of the foundational aspects of cryptocurrency is that it is not issued by any central authority, making it distinct from fiat currency. Its value is primarily driven by market forces of supply and demand. Although not universally accepted as a form of payment, cryptocurrency is gaining popularity and is used in various types of transactions, from the purchase of goods and services to investment assets.