What is a Cryptocurrency?
The term “Cryptocurrency” is a contraction of “cryptographic currency.”
It also called digital currency sometime.
Cryptocurrencies are made of the shared ledger(Ledger of transactions) using the blockchain technology protocol.
Cryptography used in Cryptocurrencies to secure communication between transactions in a hostile environment.
There is a "Proof of Work" mechanism which is essentially a set of protocols followed when updating the transaction in the shared ledger.
In the world of Fiat currencies, Cryptocurrencies have emerged as alternative finance.
Though cryptocurrencies claim to be decentralized, There are Centralized Cryptocurrencies as well, like Facebook's Libra and Ripple, etc.
Investors and popular culture have flooded the cryptocurrency ecosystem over the last several years. While there are potential benefits associated with the adoption of cryptocurrencies,
Cryptocurrencies are a risky asset class, which should be carefully researched and evaluated by anyone thinking about purchasing a particular cryptocurrency.
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