Cryptocurrencies are digital assets designed to work as a medium of exchange using strong cryptography to secure financial transactions, control the process of creating additional units, and verifying asset transfers. The most famous crypto currency is bitcoin, besides bitcoin there are still thousands of cryptocurrencies, including ethereum, litecoin, ripple, stellar, dogecoin, cardano, tether, monero, tron, etc. Cryptocurrencies use decentralized control as opposed to centralized digital currencies and central banking systems.[1]
The decentralized control of each cryptocurrency works through a distributed ledger technology, usually blockchain, which serves as a database of public financial transactions.[2] Bitcoin, first released as open source software in 2009, is generally considered the first decentralized digital currency.[3] Since the release of bitcoin, more than 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.
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