Cryptocurrency is a form of digital or virtual currency that uses cryptographic techniques to secure transactions. Unlike traditional currencies issued by governments, cryptocurrencies operate on decentralized systems known as blockchains.
Blockchains are distributed ledgers maintained by a network of computers (nodes), ensuring transparency and preventing fraud.
Cryptocurrencies allow peer-to-peer transactions without the need for intermediaries like banks, making them faster and often cheaper. They have a wide range of applications, from online payments to decentralized finance (DeFi), and can also serve as a store of value, similar to gold.
Popular examples include Bitcoin, Ethereum, and Binance Coin. Each cryptocurrency has unique features and use cases, such as facilitating smart contracts, powering applications, or providing rewards within specific ecosystems. With their growing adoption, cryptocurrencies are transforming industries and reshaping how we think about money and financial systems.
