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What is cryptocurrency?


Cryptocurrency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals.

As a counter-culture movement that is often connected to cypherpunks, cryptocurrency is a new form of value created generally by constrained supply and difficulty of acquisition. Public blockchains like Bitcoin and Ethereum work on consensus with miners.

A competitive market is created with rewards in order to decentralize the consensus of the network. When miners agree that the information is true a block is created that stores information, for instance, transaction sends, and smart contract data.

Learn more about blockchains and their history here:

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