Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It is based on decentralized technology, typically a blockchain, which is a distributed ledger maintained by a network of computers called nodes. It leverages cryptographic techniques to secure transactions and control the creation of new units.
Unlike traditional currencies issued by central banks, they are typically not issued or regulated by any central authority. Instead, they rely on cryptographic algorithms to govern the creation and transfer of units and to verify the integrity of transactions.
One of the most well-known cryptocurrencies is Bitcoin, which was introduced in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin paved the way for the development of thousands of other cryptocurrencies, often referred to as altcoins (alternative coins). Some popular altcoins include Ethereum, Ripple, Litecoin, and many more.
They can be used for various purposes, including online purchases, investment, remittances, and as a store of value. Transactions made with them are recorded on the blockchain, making them transparent and immutable. Their decentralized nature also provides a degree of privacy and autonomy to users.
It's important to note that their value can be highly volatile, and investing in them carries risks. Additionally, regulations surrounding cryptocurrencies vary from country to country, and their legal status is still evolving in many jurisdictions.

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