Description

Cryptocurrency, often shortened to crypto, is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (fiat money), cryptocurrencies are decentralized and typically run on blockchain technology, which is a distributed ledger enforced by a network of computers (called nodes).

Key Features of Cryptocurrency:

Decentralization: No central authority like a bank or government controls it.

Blockchain: A public, transparent ledger that records all transactions.

Security: Transactions are encrypted and verified through consensus mechanisms (like proof-of-work or proof-of-stake).

Limited Supply: Many cryptocurrencies (like Bitcoin) have a cap on the total supply, which can affect value over time.

Popular Cryptocurrencies:

Bitcoin (BTC) – The first and most well-known cryptocurrency.

Ethereum (ETH) – Known for enabling smart contracts and decentralized applications (dApps).

Binance Coin (BNB), Solana (SOL), and Ripple (XRP) are other notable examples.

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