What is Cryptocurrency?

What is Cryptocurrency?

Cryptocurrency is a form of digital money that is programmed to be secure, transparent, fast, low in fee and, in many cases, anonymous. The technology behind cryptocurrency is Blockchain and Cryptography.

Cryptography was born out of the need for secure communication in the Second World War. It has evolved in the digital era with elements of mathematical theory and computer science to become a way to secure communications, information and money online.

A cryptocurrency is difficult to counterfeit because of this security feature. It is not issued by any central authority; theoretically it is immune to government interference or manipulation.

The first cryptocurrency was bitcoin, which was created in 2009 and is still the best known. There has been a proliferation of cryptocurrencies in the past decade and there are now more than 900 available on the internet.