Cryptocurrency

 

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. It uses decentralized systems such as blockchain technology to process transactions and secure the currency. Some popular cryptocurrencies include Bitcoin, Ethereum, and Ripple.

Bitcoin is the first and largest cryptocurrency by market capitalization, created in 2009 by an unknown person using the pseudonym Satoshi Nakamoto. It is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications. It was launched in 2015 and its cryptocurrency is called Ether (ETH).

Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes. Its currency is called XRP.