Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger that records transactions across many computers.
Key features include:
Decentralization: No central authority (like a bank) controls it.
Anonymity: Transactions can be semi-anonymous.
Security: Cryptography secures the network.
Transparency: Transactions are publicly recorded on the blockchain.
Popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin. Cryptocurrencies are used for online transactions, investments, and as a store of value, though they are often subject to high price volatility.
