Topic: What Is CryptoCurrency? (Read 249 times)

Cryptocurrency uses decentralized technology so that users can make payments safely and save money without having to use their name or through a bank. They are distributed through a public ledger (public ledgers).

Public ledgers are the storage of all confirmed transactions since the commencement of cryptocurrency creation. The identity of the coins owner will be encrypted and the system will use other cryptocurrency techniques to ensure the legitimacy of the records. The ledger ensures that the appropriate digital wallet can calculate the balance that can be used accurately. In addition, new transactions can be checked to ensure that each transaction only uses coins currently owned by its users. Bitcoin, one of cryptocurrency, calls this booklet the term blockchain.

The unit of a cryptocurrency itself is made through a process called mining. Simply put, mining is a transaction confirmation process and adds it to the ledger (public ledger).

To add a transaction to the ledger, a miner must solve complicated computational problems (sort of a math puzzle).

Mining is open source, which means anyone can confirm the transaction. The first miner to solve the puzzle adds a "block" of transactions to the ledger. This helps ensure that transactions, blocks, and blockchains work together to ensure that no single individual can easily add or change blocks at will. Once a block is added to the ledger, all correlated transactions are permanent and a small transaction fee is added to the miner wallet (along with the newly created coin).

It is this mining process that gives value to coins and is known as a proof-of-work system. Users can also buy currency from the broker, then save and spend it using a cryptography wallet.

Crypto = cryptography/encryption
Currency = money

So all coins that are based on cryptography and are developed to be used as currency can be considered as cryptocurrency.

Many eth based tokens are out there which can't be considered as cryptocurrency because they are like shares of a project rather than a currency.

cryptocurrency is a platform.
Its a digitla currency world. it's a smart way.Its life changing way.Its a new innovation bla bla.There is a great definition of cryptocurrency. Its a digital currency based on blockchain. It has invented when we have found btc. It's wark as blockchain. Now world turn out to be as blockchain.It provest it ist great innovation of the world which is safe n secured as well

Your right! And to add additional information,  Cryptocurrencies also classified as a   subset of digital, alternative and virtual currencies。

The fully defination of crryptocurrency is A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.

1. A cryptocurrency is a digital currency created and stored electronically in blockchains.

2. It uses encryption techniques to control creation of monetary units and to verify the transfer of funds. Hence it is very secure.

3. It has no physical form but now because of BOOM in the sector it is redeemable in another commodity like gold.

4. Its supply is not determined by any central bank or authority and the network is completely decentralised.

5. Bitcoin, Ripple, Litecoin and Ethereum are examples of cryptocurrencies.

6. And the most important thing is cryptocurrency is the best way to invade taxation.

Cryptocurrency is a technologically characterized form of an asset that is being builte as a tenuous material of exchange that usea cryptography ti secure, control and verify the transfer of assets.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

Cryptocurrency is what will all know bitcoin is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

Cryptocurrency is a digital asset that will act like your money for transactions and exchanges. It is decentralized meaning you can't have control over its price and value but you can have control on your own coin. I think it is really designed to be a medium of any transaction done online. It also increases and decreases depending to demand and supply.

Cryptocurrency is a technology for making digital currencies that use cryptography for security that makes it impossible to forge. The value of cryptocurrency price is determined by the buying power of the users of this technology. Cryptocurrency or digital currency technology is currently very dynamically developed by various companies and team engineers in different parts of the world. Even Google Ventures also invests in one of the Cryptocurrency technologies. There are over 500 cryptoes based on coinmarketcap.com. Some cryptocurrencies have different concepts and some have concepts that mimic other coins.

Since the basic value of pure cryptocurrency based on purchasing and selling power is not guaranteed by anything, cryptourrency is often less than 20% in a day that can actually be used to trade profits! Especially because in Bitcoin.co.id the cost of trading cryptocurrency is 0% - pure barter.

I think cryptocurrancy is a new technology that can replace cash and can also be a profitable investment for those who hold it, such as bitcoin and altcoin can save time and money

cryptocurrency is a group of coins using virtual decentralized currency the coins lead by bitcoin and follows by altcoins, cryptocurrency or bitcoin as popular known of the people are create by mr. nakamoto satoshi using computer and internet transaction and the main source of crypto is mining using faster computer technology system.

By definition cryptocurrency is a digital currency that uses cryptography for transcations. Cryptography in layman terms will he solve of SHA256 hashes in case of BTC. Some other altcoins use other cryptography for transcation like ETH uses equihash.

A cryptocurrency is a formed of digital money which is designed to be be reliable and unknown. It is considered a currency related with the internet that uses cryptography which is the process of converting clear information.

Cryptocurrency is a coined that is based on algorithm and blockchain technology mostly produced by mining or on smart contract which is backed by a value of a project.

Bitcoin is an example of cryptocurrency. It is occuring on a computer or on the internet designed to work as a medium of exchange; a digital money.

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency

I think Cryptocurrency is a virtual currency that is used as an alternative currency that is usually decentralized. This means that no one party governs either from the government or the originator of Cryptocurrency itself.

There are so many coins due to ICOs. Each project creates its own coins which is like a stock. That's why there only a few real currencies. Most of them are in top-10 by market capitalization. It's Bitcoin, Ripple, Ethereum and some others.