Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure transactions, control the creation of additional units, and verify transfers. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies. The first decentralized cryptocurrency was bitcoin, created in 2009 by pseudonymous developer Satoshi Nakamoto.
What should I know about this?
Even though bitcoin is widely recognized as the first decentralized cryptocurrency, it wasn’t the last. Several other cryptocurrencies have been created since then, and a few of them are real time cryptocurrency news stories in 2017. Litecoin was introduced in October 2011 by former Google employee Charles Lee to improve upon bitcoin’s shortcomings compared to fiat money, which has low liquidity and high rates of volatility due to its small market cap compared with traditional traditional traditional currencies such as dollars or pounds.
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