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A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.[1][2][3] Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.[4]

 

The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.[5]

 

Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency.[6] Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.

 

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  1. William
  2. 4 years ago
  3. #54
Very informative.
  1. Sonja
  2. 4 years ago
  3. #108
Now i know.
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