How does crypto work and what is the best explanation?

3 answers

• Jan 27, 2022 · 3 years ago
  Cryptocurrency works through a technology called blockchain, which is a decentralized ledger that records all transactions. When a transaction is made, it is verified by a network of computers called miners. Once verified, the transaction is added to a block and added to the blockchain. This ensures transparency and security, as each transaction is recorded and cannot be altered. The best explanation of cryptocurrency is that it is a digital form of currency that operates independently of a central bank and uses cryptography to secure transactions.
  554277
• Jan 27, 2022 · 3 years ago
  Cryptocurrency is like digital money that is created and managed using advanced encryption techniques. It operates on a technology called blockchain, which is a decentralized and transparent ledger. The best explanation of cryptocurrency is that it is a digital currency that allows secure and anonymous transactions without the need for intermediaries like banks. It is based on mathematical algorithms and cryptographic principles to ensure the integrity and security of transactions.
  486162
• Jan 27, 2022 · 3 years ago
  Cryptocurrency works by utilizing blockchain technology, which is a decentralized and transparent ledger that records all transactions. It operates on a peer-to-peer network, meaning that there is no central authority controlling it. The best explanation of cryptocurrency is that it is a digital currency that is created and managed using cryptographic techniques. It provides a secure and efficient way to transfer value without the need for intermediaries.
  459115