What Is Crypto currency And How Is It Works? What Is Crypto Currency? Cryptocurrency is a type of digital or virtual currency that uses cryptography for security and operates independently of a central authority, such as a government or bank. It relies on blockchain technology, a decentralized ledger system, to record transactions and manage the issuance of new units. Bitcoin was the first cryptocurrency, introduced in 2009, and since then, thousands of other cryptocurrencies have emerged, each with its own unique features and purposes. Cryptocurrencies can be used for various purposes, including online purchases, investment, and as a means of transferring value across borders. How Is It Works? Cryptocurrency works through a decentralized technology called blockchain. Here's a simplified explanation: Blockchain: Cryptocurrencies operate on a blockchain, which is a distributed ledger that records all transactions across a network of computers. Decentralization: Unlike traditional c...
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