Class 9: What are Cryptocurrencies?
As I noticed that many people are already in the crypto market but still do not understand what cryptocurrency really is, I found it worthwhile to make this the theme of our ninth class.
1. The Concept of Cryptocurrency
Cryptocurrencies are decentralized digital currencies, based on cryptography and validated by a network of computers called blockchain.
They do not rely on banks or governments to exist or function.
The prefix 'crypto' comes from cryptography, the technique that protects information and ensures security.