Cryptocurrencies

Cryptocurrency is a digital or virtual form of currency that relies on cryptography for secure and decentralized transactions, making it resistant to fraud and counterfeiting. Unlike traditional currencies, cryptocurrencies are not issued or controlled by a central authority, such as a government or financial institution. Instead, they are generated and managed through decentralized computer networks using blockchain technology, which serves as a public ledger for all transactions.

The first and most well-known cryptocurrency is Bitcoin, introduced in 2009 by an anonymous individual or group under the pseudonym Satoshi Nakamoto. Since then, thousands of alternative cryptocurrencies, or “altcoins,” have emerged, each with its unique features and purposes. Cryptocurrencies can be used for various applications, including online purchases, investment, and remittance. They have gained popularity for their potential to provide financial inclusion, privacy, and autonomy, while also raising concerns over their use in illicit activities, market volatility, and regulatory challenges.