A cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (like dollars or euros), cryptocurrencies operate on decentralized systems, typically built on blockchain technology.
Key Features of Cryptocurrency:
- Decentralized: They are not controlled by any central authority like a bank or government.
- Secure: Cryptography ensures transactions are safe and tamper-proof.
- Transparent: Blockchain technology allows all transactions to be recorded on a public ledger, ensuring transparency.
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