Cryptocurrency

A cryptocurrency (or crypto currency) is adigital asset designed 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.[1][2][3] Cryptocurrencies are a type ofdigital currencies, alternative currencies andvirtual currencies. Cryptocurrencies use decentralized control[4] as opposed to centralized electronic money and central banking systems.[5] The decentralized control of each cryptocurrency works through ablockchain, which is a public transaction database, functioning as a distributedledger.[6]

Bitcoin, created in 2009, was the firstdecentralized cryptocurrency.[7] Since then, numerous other cryptocurrencies have been created.[8] These are frequently calledaltcoins, as a blend of alternative coin.