What is a cryptocurrency
What is a cryptocurrency

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What is a cryptocurrency

One of the newest currencies due to technological progress is cryptocurrency. This is a fairly common name, which means a variety of digital currencies. They have no physical expression. They exist only in numbers, but in reality they cannot be touched or seen.

In some ways, cryptocurrency bears some resemblance to the digital money that people store on a card. However, for money to appear in Internet banking, you must first put real money in the account.

Satoshi nakamoto is considered to be the inventor of the first cryptocurrency, namely bitcoin, and in order to answer the question: what is a cryptocurrency, it is necessary to understand that it is issued only in electronic form, there are no physical expressions of such banknotes. And this is their main protection against counterfeiting. After all, if paper money can be made counterfeit, then cryptocurrency is protected by cryptography from counterfeiting.

The work of any cryptocurrency is due to the presence of such a network as a blockchain. It stores all data on both existing cryptocurrencies and transactions with them.

There are many cryptocurrencies today. The most common and expensive cryptocurrency is bitcoin, which is now accepted for payments even in some online and offline outlets.

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