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Let's start with the Origin of Cryptocurrency.
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WHAT is the #ETYMOLOGY of #CRYPTOCURRENCY?
A portmanteau created by fusing two words,
1. #Crypto: Crypto means "hidden" or "secret" in Greek. The word is derived from "kryptos." In order to safeguard cryptocurrency transactions and prevent counterfeiting, a sophisticated mathematical method known as cryptography is used.
In order to pay for goods and services, a medium of exchange that is widely recognized as currency must be used.
Thus, "cryptocurrency" literally means "hidden currency," emphasizing that it is digital and depends on cryptography for protection.
A closer look at the etymology is provided here:
Prefix Crypto-:
This prefix can be found in several words like "cryptography," "cryptanalysis," and "cryptmnesia" that refer to confidentiality or secrets.
2. Currency: The name originates from the Latin verb "currere," which means "to run." The word's first meaning was "a easily circulated means of exchange," which is why financial transactions are associated with it.
First used in the late 1970s, the term "cryptocurrency" became more widely recognized in the early 2010s with the emergence of #Bitcoin, the first decentralized cryptocurrency. Although the idea of digital currency was not new, one of the major innovations that gave rise to cryptocurrencies was the application of encryption in Bitcoin to guarantee security and anonymity.
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