Cryptocurrency is a type of virtual currency that utilizes a network of individual users’ personal computers for the creation and execution of payment transactions.
These users provide part of their computing power through an internet connection. These virtual currencies differ from traditional money in that their units do not exist in a physical form like banknotes or coins but are represented solely as digital records in computer memories.
Technologically, they are sequences of binary codes, i.e., ones and zeros, that circulate through the internet, the flow of electrons in cables, or data stored on hard drives of servers around the world.
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