What is cryptocurrency?

Explain the meaning of cryptocurrency as used in the digital world and how it works.

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Cryptocurrency is a digital cash system that uses a peer-to-peer network and strong cryptography protocols for both banking and transactions.

It’s completely decentralized with no management server or central authority.

Cryptocurrency uses a distributed ledger called Blockchain for managing financial transactions.

The first known cryptocurrency network is Bitcoin, created by Satoshi Nakamoto, in 2009.

Since the creation of Bitcoin, many other cryptocurrencies such as Litecoin, Ethereum and Ripple have been created.

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Kelvin M16 answered the question on December 26, 2018 at 15:59

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