![]() It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities. : 18Ī cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. This note has been interpreted as a comment on the instability caused by fractional-reserve banking. Not to be confused with Virtual currency.Ī logo for Bitcoin, the first decentralized cryptocurrency The genesis block of Bitcoin's blockchain, with a note containing The Times newspaper headline. ![]()
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