Cryptocurrencies

Bitcoin is the name of the best-known cryptocurrency , the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.

Bitcoin is the most well-known and established cryptocurrency. This gives it a higher level of trust and stability than many other cryptocurrencies. Bitcoin has a larger user base and wider acceptance than many other cryptocurrencies. This makes it more likely that Bitcoin will continue to be used in the future.

Cryptocurrencies run on a distributed public ledger called blockchain, a record of all transactions updated and held by currency holders. Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems that generate coins.