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Home/Questions/Q 4574
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Anonymous
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Anonymous
Asked: August 29, 20212021-08-29T00:09:49+05:30 2021-08-29T00:09:49+05:30In: SEM

What is Cryptocurrency?

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What is Cryptocurrency?
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1 Answer

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  1. Ekansh Sharma Senior
    2021-08-29T00:16:46+05:30Added an answer on August 29, 2021 at 12:16 am

    A cryptocurrency is a form of a digital asset that is based on the blockchain network. This network is distributed over a large number of computers in a decentralized structure. Thousands of coins are currently listed on this blockchain technology and for each transaction, the sender and receiver haRead more

    A cryptocurrency is a form of a digital asset that is based on the blockchain network. This network is distributed over a large number of computers in a decentralized structure.

    Thousands of coins are currently listed on this blockchain technology and for each transaction, the sender and receiver have to pay some fees in the form of currency to the blockchain computers for completing the transaction which is also called crypto mining.

    Some people believe that crypto is the future as its decentralized structure makes it outside the reach of government and authorities while some people criticize this because of its use in illegal activities and volatile nature.

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