Introduction to Cryptocurrency for English Speakers
As the digital age continues to evolve, the concept of cryptocurrency has gained significant traction worldwide. For English speakers, understanding the basics of this innovative financial technology is crucial. This article aims to provide an overview of what cryptocurrency is, its benefits, and its potential impact on the global economy.
What is Cryptocurrency?
Cryptocurrency, often referred to as crypto, is a digital or virtual currency that uses cryptography for security. Unlike traditional fiat currencies, which are controlled by central banks, cryptocurrencies operate on decentralized networks known as blockchain. This decentralized nature makes them immune to government intervention and manipulation.
How Does Cryptocurrency Work?
Cryptocurrency operates through a network of computers, known as nodes, that validate and record transactions. These transactions are grouped into blocks and added to a chain of blocks, hence the term