Posted on In Application Layer Protocols, Blockchain, Cryptocurrency

A (or Crypto for short) is a digital currency secured by cryptography, usually based on decentralized Blockchain(s). Blockchains ensure the integrity and immutability of the transactional data for the cryptocurrencies.

Decentralized networks are an essential component of many cryptocurrencies. It is nearly impossible to counterfeit or double-spend cryptocurrency. Cryptocurrencies are usually not issued by any central authority or government. The decentralized nature of cryptocurrency allows them exist and transact outside the control of central authorities. Cryptocurrencies are hence generally immune to government manipulation.

Examples of cryptocurrencies include Bitcoin (BTC) and Ethereum (ETH).

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