Optiv Cybersecurity Dictionary

What is Cryptocurrency?

Cryptocurrency is a digital asset/virtual currency 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.

 

Cryptocurrencies utilize a decentralized system of control, rather than being controlled by a centralized banking authority as is typical for traditional currencies. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain. Bitcoin is the most popular cryptocurrency.

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