Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. This technology enables secure, decentralized transactions over computer networks, meaning that cryptocurrencies operate independently of a central authority or government. Most cryptocurrencies are built on blockchain technology, which is a distributed ledger that records all transactions across a network of computers in a way that is secure, transparent, and immutable. The most well-known cryptocurrency is Bitcoin, created in 2009, but there are thousands of other cryptocurrencies, including Ethereum, Ripple, and Litecoin. Cryptocurrencies are often used for a variety of applications, including investment, remittances, and as a means of exchange for goods and services. They are characterized by their limited supply, generally controlled by algorithms, and can be sent and received globally, providing accessibility and efficiency in transfers. However, they also come with risks, such as price volatility, regulatory scrutiny, and security vulnerabilities.
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…