Crypto - Page 18

"Crypto" refers to cryptocurrencies, which are digital or virtual currencies that utilize cryptography for security. This technology ensures the integrity and security of transactions, controls the creation of new units, and verifies asset transfers. Cryptocurrencies operate on decentralized networks based on blockchain technology, a distributed ledger enforced by a network of computers (nodes). This decentralization eliminates the need for a central authority, such as a government or financial institution, making transactions peer-to-peer. Bitcoin, created in 2009, was the first cryptocurrency and remains the most well-known, but thousands of others, including Ethereum, Ripple, and Litecoin, have since emerged, each with unique features and purposes. Cryptocurrencies can be used for various applications, including online purchases, investment, remittances, and even as a means of fundraising for projects through initial coin offerings (ICOs). The value of cryptocurrencies can be highly volatile, leading to both significant investment opportunities and risks.