A Cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses Cryptography to secure and verify transactions as well as to control the creation of new units of a particular projects. Essentially, Cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.Cryptocurrencies are systems that allow for the secure payments online which are denominated in terms of virtual “tokens,” which are represented by ledger entries internal to the system.
It is a new form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.