Cryptocurrency (or crypto-asset) is a digital asset, a virtual item that uses cryptography to secure transactions, the way it works, designed as an alternative medium of exchange to cash. Crypto assets are completely decentralized, unlike centralized electronic money and central banking systems. The decentralization of each cryptocurrency comes from a blockchain that functions as a public transaction database, a distributed ledger. Created by Satoshi Nakamoto in 2009, Bitcoin is the first decentralized cryptocurrency. Since then, many different cryptocurrencies have emerged. Cryptocurrencies other than Bitcoin are generally referred to as altcoins, which is a combination of alternative and coin.

Back to top button