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Optiv Cybersecurity Dictionary Breadcrumb Home Cybersecurity Dictionary Cryptocurrency 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. Image Related Services Ransomware Risk of Cryptocurrencies Data is the New Currency Will Blockchain Change the World? Related TermsCryptomining / CryptojackingBlockchain Share: Contact Us