Cryptocurrency is digital currency that uses cryptography to verify financial transactions and control the creation of new currency units. Transactions are recorded in a distributed ledger, usually a blockchain, that can be viewed and verified by all users of the cryptocurrency. The decentralized nature of the cryptocurrency system means that no centralized authority, such as a government or bank, is required to regulate, control, or issue the currency.
Examples of cryptocurrencies
As of 2019, over 1600 distinct cryptocurrencies exist, with varying levels of popularity and activity. Some popular or notable cryptocurrencies are listed below.
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