A cryptocurrency or simply crypto is a collection of binary data which is designed to work as a medium of transaction. In a narrow sense, we can deal with it as a type of currency that used digital files as money. Crypto” refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions. Crypto is a medium of exchange that is encrypted and decentralized. It is based on blockchain technology. Bitcoin is the first cryptocurrency. According to the paper published in 2008 by Satoshi Nakamoto titled “Bitcoin: A peer-to-peer Electronic Cash System.”, describes it as a payment system that is based on cryptographic proof instead of trust. The proof is verified and recorded in the blockchain. Investing in crypto is a bit tricky predicting the rise and downfall of crypto a bit resembles the stock market.
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