Cryptocurrencies are digital or virtual currencies that are able to operate as a medium of exchange at a peer-to-peer level, enabling direct payments between individuals. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. They operate on decentralized platforms which means it is not controlled by any central authority: the decentralized nature of the blockchain makes cryptocurrencies theoretically immune to the old ways of government control and interference.
Modified on: Wed, 6 Nov, 2019 at 5:13 PM
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