Cryptocurrency is a digital or virtualform of money that uses cryptography for secure financial transactions. Unlike traditional currencies issued by governments and central banks, cryptocurrencies operate on decentralized networks based on blockchain technology—a distributed ledger that records all transactions across multiple computers. Bitcoin, introduced in 2009, was the first cryptocurrency and remains the most well-known. Since then, thousands of cryptocurrencies, like Ethereum, Ripple, and Litecoin, have emerged. Cryptocurrencies offer advantages such as faster transactions, lower fees, and increased privacy. They also enable global peer-to-peer transfers without intermediaries like banks. However, their high price volatility, regulatory uncertainty, and potential for misuse in illegal activities pose challenges. Despite these concerns, cryptocurrency is gaining acceptance in various sectors, from online retail to finance, and is viewed by many as the future of digital money. As blockchain technology evolves, cryptocurrency could play a transformative role in global economic systems.
