Crypto Explained: What is Cryptocurrency? How does it work?

Cryptocurrency, or Crypto, in short, is a series of binary data issued by the blockchain, working as a medium of exchange and rewards for miners, blockchain validators, investors, etc.  Cryptocurrency means cryptography and currency.

Cryptography: The blockchain uses sophisticated cryptography to verify, control and secure every crypto transaction.
Currency: In simple terms, it is a medium of exchange for goods and services.

Cryptocurrency revolutionizes finance by enabling decentralized transactions through blockchain technology. Its reliance on cryptography ensures security and transparency, making it a compelling alternative to traditional currencies. Understanding its mechanics is crucial for navigating the future of digital finance.