Cryptocurrency

Cryptocurrency is a digital or virtual form of currency that utilizes cryptography for security. It operates on decentralized technology, typically a blockchain, which is a distributed ledger enforced by a network of computers (nodes). Cryptocurrencies are designed to work as a medium of exchange, allowing for peer-to-peer transactions without the need for a central authority, such as a bank or government. The most well-known cryptocurrency is Bitcoin, created in 2009, but thousands of other cryptocurrencies, known as altcoins, exist, each with unique features and purposes. Transactions made with cryptocurrencies are generally recorded on public ledgers, providing transparency while maintaining user anonymity. Cryptocurrencies can be used for various applications, including online purchases, investment, and transfer of assets, often touted for their potential to revolutionize the financial system by offering greater accessibility, efficiency, and security.