What Does Cryptocurrency Mean?
Cryptocurrency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals.
Techopedia Explains Cryptocurrency
Gavin Andresen, bitcoin’s technical lead, told Forbes.com that cryptocurrency is designed to bring back a “decentralized currency of the people,” taking centralized banks out of the equation. Because bitcoins must be cryptographically signed each time they are transferred, each bitcoin user has both public and individual private keys.
