What is a cryptocurrency ?

What is a cryptocurrency ?

https://www.crowdfundinsider.com/2014/09/49760-guide-crypto-currency-infographic/

A cryptocurrency (or crypto currency) is a form of digital money to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.

https://www.crowdfundinsider.com/2014/09/49760-guide-crypto-currency-infographic/

It is a currency associated with the internet that uses cryptography, the process of converting legible information into an almost uncrackable code, to track purchases and transfers.

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Cryptocurrencies are a type of digital currencies, alternative currencies and virtual currencies. Cryptocurrencies use decentralized controlas opposed to centralized electronic money and central banking systems.

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The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger.

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The first cryptocurrency was bitcoin, which was created in 2009 and is still the best known. There has been a proliferation of cryptocurrencies in the past decade and there are now more than 1,000 available on the internet. Bitcoin soared as high as $20,000 at the end of last year before crashing back to less than $8000 now.

Cryptocurrency. (2018, February 16). Retrieved from https://en.wikipedia.org/wiki/Cryptocurrency

Cryptocurrency. Retrieved from https://www.investopedia.com/terms/c/cryptocurrency.asp

McGoogan,C. and Field M. (2018, February 16). What is cryptocurrency, how does it work and why do we use it? Retrieved from http://www.telegraph.co.uk/technology/0/cryptocurrency/