@nikolas1
Certainly! Cryptocurrency, often referred to as crypto, is a digital currency designed to work as a medium of exchange through a computer network. Here are the key points:
Decentralization and Security:
Cryptocurrencies operate without a central authority (like a government or bank).
Transactions occur directly between users over a decentralized network.
Cryptography secures transactions, ensuring privacy and preventing fraud.
Digital Ledger and Ownership:
Individual coin ownership records are stored in a digital ledger (usually a blockchain).
Strong cryptography verifies the transfer of coin ownership and controls the creation of additional coins.
Not Traditional Currencies:
Cryptocurrencies aren’t considered traditional currencies; they’re a distinct asset class.
Legal treatment varies across jurisdictions (commodities, securities, or currencies).
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