Cryptocurrency

Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger enforced by a network of computers, known as nodes. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are typically not controlled by any central authority, making them resistant to government interference or manipulation. Cryptocurrencies facilitate peer-to-peer transactions, enabling users to send and receive funds directly without the need for intermediaries like banks. Common features of cryptocurrencies include their limited supply, which can introduce scarcity, and the use of public and private keys to secure transactions. Examples of cryptocurrencies include Bitcoin, Ethereum, and Litecoin. The rise of cryptocurrencies has also led to the development of various associated financial technologies, including decentralized finance (DeFi) and non-fungible tokens (NFTs).