Crypto - Page 116
Crypto, short for cryptocurrency, refers to a type of digital or virtual currency that utilizes cryptography for security. This technology makes cryptocurrencies resistant to counterfeiting and fraud, as it involves complex mathematical algorithms and protocols. Cryptocurrencies operate on decentralized networks based on blockchain technology, which is a distributed ledger that records all transactions across a network of computers. This decentralized nature means that cryptocurrencies are not controlled by any central authority, such as a government or financial institution, allowing for peer-to-peer transactions. Popular examples of cryptocurrencies include Bitcoin, Ethereum, and Litecoin. Crypto also encompasses various forms of digital assets and tokens that can represent ownership or utility within specific blockchain ecosystems. The term has gained significant prominence with the rise of digital assets and the increasing interest in blockchain technology as a means of facilitating secure and transparent financial transactions.
