Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized technology called blockchain, which is a distributed ledger that records all transactions across a network of computers. This decentralization makes cryptocurrencies resistant to manipulation or control by any central authority, such as a government or financial institution.
Cryptocurrencies are characterized by their limited supply, enabling them to function as both a medium of exchange and a store of value. Transactions made with cryptocurrencies can be anonymous, providing privacy for users, although some blockchains are transparent and public. Popular examples of cryptocurrencies include Bitcoin, Ethereum, and Litecoin.
The use of cryptocurrencies has gained popularity due to innovation in financial systems, increased investment opportunities, and the rise of decentralized finance (DeFi). However, they are also associated with volatility, regulatory scrutiny, and potential security risks. Overall, cryptocurrencies represent a new paradigm in the world of finance and technology, challenging traditional notions of money and transaction systems.
Venture capital investment in crypto soared to $3.8 billion in March, propelled by a $2 billion investment in Binance by Abu Dhabi's MGX, overshadowing other market sentiments. Without Binance's deal,…
Javier Milei's social media post about a cryptocurrency, $LIBRA, led to a dramatic financial rise and fall. The cryptocurrency's value initially soared but rapidly declined, leaving 40,000 investors at a…