Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (like the dollar or euro), cryptocurrencies operate on decentralized networks based on blockchain technology—a distributed ledger that records all transactions across a network of computers.
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Key features of cryptocurrencies include:
Decentralization: Most cryptocurrencies are not controlled by any central authority, making them resistant to manipulation and censorship.
Security: Cryptography ensures secure transactions and controls the creation of new units.
Anonymity: Transactions can be conducted with a degree of privacy, although some cryptocurrencies offer more anonymity than others.
Limited Supply: Many cryptocurrencies have a capped supply, which can create scarcity and potentially drive value.
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