Greetings, Crypto Nation!
Welcome to Carrie's Crypto Corner!
Today I cover:
🤔What is a cryptocurrency?🤔
TL;DW (Too long; Didn't watch)
- Cryptocurrency is a digital asset that uses decentralized cryptography to secure transactions, to control the creation of additional units, and to verify the transfers of assets. Wikipedia
- A digital asset is anything that exists in a binary format and comes with the right to use. Ex. music, documents, movies, games, etc.Wikipedia
- Decentralization is the process of distributing or dispersing functions, powers, people or things away from a central location or authority. Wikipedia
- Cryptography is basically a very advanced form of encryption. Just like when you were a kid and you made a secret code with your friends to write notes... Just like that. 😎 Wikipedia
- Bitcoin was the first decentralized cryptocurrency in 2009.
- All other coins that have been created since are referred to as altcoins. Literally: Alternate Coins.
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