1 — Cryptocurrency is a type of digital currency, virtual currency, or alternative currency.
2 — It’s the new kid on the block. It’s a digital currency that’s not tied to any particular country.
3 — There are more than 4,000 cryptocurrencies.
4 — The first decentralized cryptocurrency, Bitcoin, was created in 2009 by developer Satoshi Nakamoto.
5— A cryptocurrency or digital currency is a type of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses decentralized control as opposed to centralized electronic money and central banking systems.
6 — Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. Anyone can use it to transact securely without the need for centralized third parties such as banks.
7 — The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
8 — It’s an encrypted, decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining. It is an open-source technology and its design is public.
