More Examples

“I am getting interested in cryptocurrency.”

“Don’t say ‘crypto‘ to me… I only wanna hear about Bitcoin.”

“Bitcoin is known as the first cryptocurrency.”

Definition(s) from the Web

  1. A digital currency refers to money or scrip which is only exchanged electronically. When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as PayPal, the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency. Bitcoin has been described as the first decentralized digital currency. Source
  2. Cryptocurrency is a type of digital currency, the issuing and accounting of which are based on cryptographic methods such as Proof-of-work – which assures that coins are mined only by users putting computing power to work in solving complicated mathematical problems – and asymmetric or public key encryption – which assures that the network that the currency runs on remains safe, by making transaction requests secret, verifying and protecting identities, and making double-spending virtually impossible. The system functions in a decentralized fashion on a distributed computer network. Source
  3. A cryptocurrency, crypto currency or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, 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 the first decentralized cryptocurrency. Since the release of bitcoin, other cryptocurrencies have been created. Source

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