Cryptocurrencies | An Overview

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  • Cryptocurrency is a digital currency or asset

 

  • The first cryptocurrency was released in 2009 – Bitcoin

 

  • Bitcoin was invented by Satoshi Nakomoto (an unknown person or group of people)

 

  • Cryptocurrencies are the first decentralized forms of money as opposed to centralized money from traditional banks

 

  • Cryptocurrency uses blockchain technology, making it secure and impossible to duplicate or counterfeit

 

 

 

  • Cryptocurrencies created after Bitcoin are known as Altcoins or Alternative coins

 

  • The top 5 cryptocurrencies include:
    1. Bitcoin
    2. Ethereum
    3. Ripple
    4. Bitcoin Cash
    5. EOS

 

  • Cryptocurrency transactions are validated using a process called mining.

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