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Crypto Explained: What is Cryptocurrency? How does it work?
Cryptocurrency, or Crypto, in short, is a series of binary data issued by the blockchain, working as a medium of exchange and rewards for miners, blockchain validators, investors, etc. Cryptocurrency means cryptography and currency.
Cryptography: The blockchain uses sophisticated cryptography to verify, control and secure every crypto transaction.
Currency: In simple terms, it is a medium of exchange for goods and services.