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What is cryptocurrency?

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Cryptocurrency is a digital currency that uses cryptography to secure transactions that are recorded on a distributed ledger, ie the blockchain. It is a form of money that exists as encrypted, digital information. It operates independently of any bank and uses sophisticated mathematics to regulate the creation and transfer of funds between entities.

Cryptocurrencies do not require a central authority to govern monetary policy. This authority for cryptocurrencies is typically decentralized, where each transaction is confirmed by receiving consensus from a network of computers interacting with each other.

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