Glossary - ChicksX

Cryptocurrency is digital or virtual currency secured by cryptography. It operates independently of a central authority or government.

Cryptocurrency is digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology. This ensures transparency and immutability of transactions. Unlike traditional currencies, cryptocurrencies are not issued by any central authority, making them immune to government interference or manipulation. Bitcoin, launched in 2009, was the first cryptocurrency and remains the most well-known. Other popular cryptocurrencies include Ethereum, Ripple, and Litecoin. They can be used for various purposes, including online transactions, investment, and as a means to transfer assets globally. Cryptocurrencies offer potential benefits like lower transaction fees and faster transfers.