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Cryptocurrency is a type of digital currency that uses cryptography to secure and verify transactions, as well as to control the creation of new units. Cryptocurrencies are decentralized and operate independently of a central bank or government. Instead, they rely on a distributed ledger technology called blockchain, which maintains a continuously growing list of records, called blocks, that are linked and secured using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
The most famous cryptocurrency is Bitcoin, which was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Since then, thousands of other cryptocurrencies have been created, such as Ethereum, Litecoin, and Ripple. Cryptocurrencies have gained popularity due to their potential for anonymity, low transaction fees, and lack of government or financial institution control. However, their value can be highly volatile, and they are still subject to regulatory scrutiny and potential security risks.