Crypto Currency

  A crypto currency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored I a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the additional coins, and to verify the transfer of coin ownership. Cryptocurrency does not exist in physical in physical form (like paper money) and is typical not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC).                                                                                                                                                                                                                                                          

  When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. Bitcoin, first released as open-source software in 2009, is the first decentralized crypto currency. Since the release of bitcoin, many other cryptocurrencies have been created.


A logo of bitcoin, the first decentralized
crypto currency

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