Whether you’re checking out Bitcoin’s high value or looking at Ethereum smart contracts, knowing about cryptocurrency can be pretty important. What is Cryptocurrency?

Let’s keep it simple. Cryptocurrency is digital money. It secures transactions & controls making new units. Unlike regular money from governments, cryptocurrencies run on a decentralized network using blockchain technology.

Think of blockchain like a big digital notebook everyone in the network can see and check—adding trust & transparency.

  • Eheran@lemmy.world
    link
    fedilink
    English
    arrow-up
    1
    ·
    1 month ago

    Cryptocurrency is digital money.

    With money I can pay everyday items. With crypto I can not do that, simple transactions take time and/or cost a lot of money.

    • Wizard@zeal.center
      link
      fedilink
      arrow-up
      1
      ·
      1 month ago

      @Eheran
      Sure, BTC is not digital money. It is slow, expensive and has no privacy.

      But there are other blockchains that are digital money, transactions are fast, they cost fractions of a cent and keep your privacy. That’s what you need for a digital currency.

      @amir17