What is cryptocurrency and blockchain? – Cryptocurrencies
are virtual, digital currencies that offer the benefit of
exceptionally strong protection, provided by sophisticated
algorithms and cryptography, and by blockchain technology which
distributes secure online ledgers of every transaction across a
network of disparate computers.
This makes cryptocurrencies almost impossible to counterfeit,
which has led to them increasingly being used to safeguard
financial transactions.
Although cryptocurrencies are highly secure, they also have
disadvantages. As they are resistant to interference, they are also
difficult to police, which makes them attractive for illegal
activities. They are also vulnerable to volatile exchange rates and
problems with the infrastructure they rely on.
