WHAT IS CRYPTOCURRENCY?
Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically based on blockchain technology, which is a distributed ledger that records all transactions across a network of computers.
KEY FEATURES OF CRYPTOCURRENCY
Cryptography: Cryptocurrencies use cryptographic techniques to secure transactions, control the creation of new units, and verify asset transfers. This ensures that transactions are secure and tamper-proof.
Decentralization: Most cryptocurrencies operate on decentralized networks using blockchain technology. This means they are not controlled by a central authority, like a bank or government.
Limited Supply: Many cryptocurrencies have a capped supply, meaning there is a maximum number of coins that will ever be created. For instance, Bitcoin has a limit of 21 million coins, which can create scarcity and potentially increase value over time.
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