What is a cryptocurrency and how does it work?

A cryptocurrency is a digital asset that works based on blockchain technology. A blockchain is a decentralised, distributed ledger that records transactions across many computers in a way that makes it difficult to alter or delete previous transactions. This allows for a secure and transparent record of all transactions made.

Is cryptocurrency a Public Ledger?

Cryptocurrencies exist and operate on a public ledger called a blockchain, which records all crypto transactions. Blockchain encryption is designed to make all transactions immutable and secure from tampering, counterfeit, and other forms of fraudulent transactions. Is cryptocurrency a type of money?

What are the two largest cryptocurrencies by market capitalization?

Among the 18,000-plus cryptocurrencies in existence, Bitcoin and Ethereum are the two largest cryptocurrencies by market capitalization. Bitcoin, the original and largest cryptocurrency, was developed in 2009 as an alternative monetary asset. It was meant to be an alternative to the U.S. dollar and other fiat currencies.

Do cryptocurrencies hold value?

Although we can't see or touch cryptocurrencies, they do hold value. Cryptocurrencies can be stored in a 'digital wallet' on a smartphone or computer, and owners can send them to people to buy things. Where did cryptocurrencies come from? The cryptocurrency Dogecoin was orginally created by Billy Markus and Jackson Palmer as a joke!