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1. Introduction to Cryptocurrency: Basics
Cryptocurrency is digital or virtual money that uses cryptography for security. They operate on a decentralized technology known as blockchain. Blockchain is a chain of blocks where transaction data is stored across numerous computers worldwide. This means there is no single controlling authority, making the system less vulnerable to fraud.
The first cryptocurrency, Bitcoin, was introduced in 2009 by Satoshi Nakamoto. Since then, thousands of other cryptocurrencies have emerged, each serving various functions. Cryptocurrencies can be used for online payments, investment, and participation in various financial programs like DeFi and NFTs.
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