Cryptocurrency
Cryptocurrency is a digital or virtual form of currency that uses Cryptography for security. It operates on decentralized technology, typically a Blockchain, which is a distributed ledger enforced by a network of computers (nodes). Cryptocurrencies are not issued or regulated by any central authority, making them theoretically immune to government interference or manipulation.
Some well-known examples of cryptocurrencies include:
- Bitcoin (BTC): The first and most widely recognized cryptocurrency, created in 2009 by an anonymous entity known as Satoshi Nakamoto.
- Ethereum (ETH): A platform that enables developers to create decentralized applications (dApps) using Smart Contracts, launched in 2015.
- Ripple (XRP): A Digital Currency designed for facilitating international payments and Remittances, focusing on speed and low transaction costs.
Cryptocurrencies can be used for various purposes, including:
- Investment and speculation.
- Transferring value across borders quickly and with lower fees.
- Enabling Decentralized Finance (DeFi) applications that provide financial services without traditional banks.