News: What is Cryptocurrency explanation and how it works

Quoted from Investopedia, cryptocurrencies are digital currencies that are secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.

Cryptography is a method used to protect information and communication channels through the use of codes.

The concept of cryptography has actually been around since the days of World War II. At that time, Germany used cryptography to transmit secret codes so that they were not easily read by the Allies.

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This use of cryptography makes the use of cryptocurrencies very difficult to manipulate. In other words, cryptocurrencies cannot be counterfeited.

Many cryptocurrencies are decentralized networks based on blockchain technology. Blockchain itself is a technology similar to a distributed ledger and is enforced by a network of different computers.

How Cryptocurrency Works
There are three inherent keys to how cryptocurrencies work, namely digital, encrypted, and decentralized.

This means that it is not the same as conventional currencies such as US dollars, Euros, and even Rupiah. Crypto is not issued by any central authority, which makes it theoretically immune to government interference or manipulation.

Thus, the task of controlling and managing this currency is entirely held by cryptocurrency users via the internet.

Bitcoin is the first cryptocurrency. The principle of cryptocurrency has been explained by Satoshi Nakamoto in an article entitled "Bitcoin: Peer to Peer Electronic Money System" which you can access via the bitcoin.org page.

In the article, Nakamoto describes the cryptocurrency asset project as an electronic payment system based on cryptographic evidence, so it's not just trust.

The cryptographic evidence exists in the form of verified transactions and is recorded in a program called a blockchain.

Types of Crypto Money
If you are interested in trading cryptocurrency assets or cryptocurrencies, you need to know beforehand, that there are at least 10,000 types of cryptocurrencies currently being traded.

However, currently some countries do not apply the term cryptocurrency. This is because the term tends to think of crypto as a digital currency that can be used as payment. In fact, not al