Cryptocurrency is best thought of as a digital currency that only exists on computers. It is transferred between peers (there is no middleman like a bank). Transactions are then recorded on a digital public ledger called the “blockchain”.
Transaction data and the ledger are encrypted using cryptography. That is why it is called “crypto” “currency”.
Cryptocurrency Main Features
Let’s dig into how cryptocurrency works.
Decentralized and Distributed
Cryptocurrencies are decentralized and distributed.