Cryptocurrency is a form of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks based on blockchain technology, which is a distributed ledger enforced by a network of computers (nodes). This decentralized nature ensures that no central authority controls the currency, making it resistant to manipulation and interference.
Cryptocurrencies can be used for various purposes, including online transactions, investment, and as a medium of exchange. They are characterized by features such as scarcity (limited supply), transparency (publicly verifiable transaction history), and anonymity (user identities can be pseudonymous). The most well-known cryptocurrency is Bitcoin, created in 2009, but thousands of other cryptocurrencies, such as Ethereum, Litecoin, and Ripple, exist, each with unique features and uses.
Cryptocurrency can also be subject to high volatility in value, resulting in significant investment returns or losses. Additionally, the rise of cryptocurrencies has led to various regulatory discussions and developments as governments and financial institutions seek to understand and integrate this evolving digital asset class.
### Crypto Businessman's Ordeal In a startling incident that has captivated the public, a prominent figure in the cryptocurrency sector was kidnapped alongside his partner, only to be rescued by…