Cryptocurrency: A Digital Revolution
What is Cryptocurrency?
Cryptocurrency is a digital or decentralized currency that is not backed by any central bank or financial institution. Instead, it is secured through cryptography and is maintained by a network of computers across the globe. Transactions are recorded on a public, distributed ledger called a blockchain, making them transparent and tamper-proof.
How Does Cryptocurrency Work?
Cryptocurrencies are supported by blockchain technology, which maintains a secure and immutable record of all transactions. When a transaction is made, it is verified by multiple computers on the network and added to the blockchain as a new block. Each block is linked to the previous one, creating a chain of blocks that is extremely resistant to manipulation.
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