Cryptocurrency is a data string that is encrypted to represent a unit of currency. It is governed and structured via a peer-to-peer network known as a blockchain, which also acts as a secure ledger for transactions like as buying, selling, and transferring. In contrast to traditional currency, cryptocurrencies are decentralised, which means they are not issued by governments or other financial entities.

Cryptocurrencies are created (and secured) using cryptographic methods that are maintained and confirmed by a process called mining, in which transactions are processed and validated by a network of computers or specialised hardware such as application-specific integrated circuits (ASICs). The procedure compensates the network’s miners with cryptocurrency.

Popular cryptocurrencies include Bitcoin, Ether, Litecoin, and Monero.