Category: Cryptocurrency

Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger enforced by a network of computers (nodes). This decentralization makes cryptocurrencies resistant to central authority manipulation and fraud. Cryptocurrencies can be exchanged for goods and services or traded for profit, and they exist in various forms, the most well-known being Bitcoin, Ethereum, and Ripple. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are typically not regulated by any central authority, and their value is determined by supply and demand dynamics in the market. The use of cryptographic techniques ensures the integrity and security of transactions, while also providing anonymity to users. Overall, cryptocurrency represents a new form of money that challenges traditional financial systems and enables peer-to-peer transactions over the internet.