Define Cryptocurrency?
What is a cryptocurrency?
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Define Cryptocurrency?
Manuel Toledo
Is digital currency that is use to eliminate intermediaries between sellers and buyers, this process use a different coins like bitcoin, ether etc.
The network is complete decentralized platform, that allows to reduce cost in each transaction; use P2P model.
Ankur Sharma
It is a form of digital money that is designed to work as a medium of exchange and uses a cryptography method to make the transaction secure. It is also known as virtual currency.
Alhimik
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.
The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. Since the release of bitcoin, over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.
The most important feature of a cryptocurrency is that it is not controlled by any central authority: the decentralized nature of blockchain makes cryptocurrency theoretically immune to the old ways of government control and interference.
Cryptocurrencies make it easier to conduct any transactions, for transfers are simplified through use of public and private keys for security and privacy purposes. These transfers can be done with minimal processing fees, allowing users to avoid the steep fees charged by traditional financial institutions.
Mauro Real
Complementing the previous answers a cryptocurrency or coin means a blockchain-based electronic money, or on another distributed ledger.
Each cryptocurrency must have its own transaction log, so for example Bitcoin has its own Blockchain, Ethereum has its Blockchain,
Each Blockchain can issue several tokens, that would be exchange among Blockchain Wallets, for instance we have the TOKEN = Aragon ( Symbol = ANT ), that has been issued on the plataform of the Blockchain Ethereum that has the COIN = ETH ( Ether ).
For a lisf of Coins and Tokens take a look on
https://en.bitcoinwiki.org/wiki/Cryptocurrency_list
Saqib Raza
A cryptocurrency is a digital currency created and stored electronically in blockchains which uses encryption techniques to control creation of monetary units. It has no physical form and is not redeemable in another commodity like gold. Its supply is not determined by any central bank or authority and the network is completely decentralised.