HanbokElegance
Wed Dec 25 2024
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6 answers
715
What is cryptocurrency in 200 words?
Cryptocurrency is a digital asset designed to work as a medium of exchange. It uses cryptography to secure transactions and to control the creation of additional units. Cryptocurrency is decentralized, meaning it is not controlled by any central authority. Transactions are recorded in a public ledger using blockchain technology, ensuring transparency and security. Its value is determined by market forces and can be used for online purchases or as an investment.
