# Crypto (cryptocurrency) aka **Crypto-Currency** or **Virtual Currency (VC)** or **Crypto** 1. A scarce digital asset built on or running on top of a [[Blockchain|blockchain]] protocol and exchanged via that blockchain system. 3. Is a [[Distributed (network)|distributed]] and [[Decentralized|decentralized]] system for secure exchange and transfer of digital money, based on [[Cryptography|cryptographic]] algorithms. 5. Digital currency that is based on mathematics and uses encryption techniques to regulate the creation of units of currency as well as verifying the transfer of funds. Cryptocurrencies operate independently of a [[central bank]]. 2. A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using [[cryptography]] to secure the [[Transaction(s)|transactions]] and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies. [[Bitcoin (blockchain)]] became the first [[decentralized]] cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created These are frequently called [[Altcoin(s)|altcoins]], as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems. The decentralized control is related to the use of bitcoins blockchain transaction database in the role of a [[Distributed Ledger Technology (DLT)|distributed ledger]]. 5. A type of digital currency that is generally decentralized and uses [[Cryptography|cryptography]] (i.e. data is converted into a format that is unreadable for unauthorized users) for added security, making it difficult to counterfeit or manipulate. 7. A [[Crypto (cryptocurrency)|cryptocurrency]] is a digital currency that is secured by [[Cryptography|cryptography]]. One of its primary functions is to work as a medium of exchange within a [[Peer-to-Peer (P2P)|peer-to-peer (P2P)]] economic system built on [[Distributed Ledger Technology (DLT)|distributed ledger technology]], which relies on cryptography to prevent frauds and counterfeiting. Most cryptocurrency systems are [[Decentralized|decentralized]] and maintained by a [[Distributed (network)|distributed network]] of computers ([[Node(s)|nodes]]) spread around the world. 9. A digital currency that uses strong computer code ([[Cryptography|cryptography]]) and a [[Decentralized|decentralized]] system to allow for [[Transaction(s)|transactions]] without using middlemen like banks. AKA digital currency. 11. A digital currency that uses [[Cryptography|cryptography]] to provide security and verify [[Transaction(s)|transactions]] on its network. Bitcoin is the first [[Crypto (cryptocurrency)|cryptocurrency]]. Unlike traditional fiat currencies, a cryptocurrency does not require a central bank or any other centralized authority to ensure security or to maintain control of money supply. 13. A scarce digital asset defined by a [[Blockchain|blockchain]] protocol and exchanged via that blockchain system. 15. A [[Token(s)|token]] or currency built on top of [[Blockchain|blockchain]] technology. This token helps capture and distribute value from users of the blockchain. You can think of [[Bitcoin (blockchain)]] as the first application and [[Crypto (cryptocurrency)|cryptocurrency]] stemming from the blockchain. Cryptocurrencies are a subset of what are known as cryptoassets. 10. It is a digital [[Transaction(s)|transaction]] medium that makes use of cryptographic techniques to secure one’s monetary transfers. 11. A form of digital currency based on mathematics and [[cryptography]], where encryption techniques are used to govern the production of units of currency and verify the transfer of funds. An example of cryptocurrency is [[bitcoin (BTC)]]. 12. Cryptocurrency is a digital asset that circulates on the internet as a medium of exchange. It employs [[blockchain]] technology — a [[Distributed (network)]] ledger of transactions that is publicly available — and is secured by advanced [[cryptography]]. This revolutionary asset architecture allows for certainty that cryptocurrency [[Coin(s)|coins]] and [[Token(s)|tokens]] cannot be [[Double Spend|double-spent]] even in the absence of a centralized intermediary. The first cryptocurrency to acheive mainstream success was Bitcoin which paved the way for the proliferation of many other cryptocurrencies. 13. Cryptocurrency refers to currencies that are digitally distributed and traded with establishing proof of ownership through cryptographic methods. For instance, it is not possible to transfer Ether from an account without any control over the [[Private Key|private key]] related to the concerned account.