Crypto - The Digital Currency
What is Cryptocurrency ? A cryptocurrency is a digital or virtual currency that is secured by cryptography (sort of coding) , which makes it almost impossible to counterfeit or double spend. Many cryptocurrencies are decentralized networks based on BLOCKCHAIN technology - a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering the theoretically immune to government interference or manipulation. Understanding Cryptocurrencies Cryptocurrencies are system that allow for secure payments online which are denominated in terms of virtual "tokens", which are represented by ledger entries internal to the system. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions. Types of Cryptocurrency The first blockchain-...