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What is Crypto Currency
Crypto currency is a type of digital or virtual currency that uses cryptography for security and operates on decentralized networks based on blockchain technology. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are typically not controlled by any central authority, such as a government or financial institution.
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Blockchain Technology
Decentralization
Cryptography
Mining
Blockchain Technology
Most cryptocurrencies operate on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers. This technology ensures transparency, security, and decentralization.
Decentralization
Cryptocurrencies operate on a decentralized network of computers, meaning there is no single point of control or authority. This decentralization is often seen as a key feature, as it reduces the risk of censorship and interference.
Cryptography
Cryptocurrencies use cryptographic techniques to secure transactions and control the creation of new units. Public and private keys are used to facilitate secure transactions between parties
Mining
Some cryptocurrencies use a process called mining, where powerful computers solve complex mathematical problems to validate transactions on the network and, in the case of proof-of-work systems, to add new blocks to the blockchain.
Bitcoin
Bitcoin, created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto, was the first cryptocurrency. It remains the most well-known and valuable cryptocurrency by market capitalization.
Wallets
Cryptocurrency wallets are digital tools that allow users to store and manage their cryptocurrencies. Wallets can be software-based (online, desktop, or mobile) or hardware-based (physical devices).
