Cryptocurrency is a digital currency or asset that does not require conventional banks to verify transactions.
The blockchain is a digital medium of exchange which is used to create and maintain cryptocurrency.
The transfer of funds is validated by cryptographic techniques and an algorithm that controls production of currency units.
Cryptocurrencies have no intrinsic value and are only worth what people are willing to spend on them.
The legal tender status of national currencies is what gives them some value.
Bitcoin and Ether, though there are other cryptocurrencies, are the two most popular. Markets for cryptocurrencies have become much more active.
Crypto transactions are kept digitally, publically recorded and encrypted. This requires complex coding when transferring and holding.
Top comments (0)