What is Cryptocurrency and How Does It Work?

Cryptocurrency is a digital currency that, unlike traditional currencies, is traded in an encrypted manner. This encryption was developed to ensure that cryptocurrencies, designed as a medium of exchange that can replace cash, are secure and verifiable. You can transfer value over the internet with crypto currencies, whenever you want, wherever you want, to anyone you want. Cryptocurrencies are digital assets that are not regulated by a central authority. So no one prints or controls it. It operates on a free and open network between computers. This network uses a technology called blockchain, which is a publicly visible database that keeps track of cryptocurrencies. Blockchain ensures that cryptocurrencies are protected against counterfeiting. To own cryptocurrencies, it is enough to join this network and create a crypto wallet. Cryptocurrency production occurs through a process called mining. Mining is a function that ensures the operation of the cryptocurrency network and creates new cryptocurrencies. Miners solve complex mathematical problems using their networked computers and save them in a distributed database called blockchain. Distributed system is where more than one computer or server communicates with each other and works with each other by forming a network whole.