A cryptocurrency is one of the digital assets developed upon cryptography and designed to work as a medium of exchange to secure financial transactions, control the creation of additional units, and verify the transfer of assets. The decentralised control of each cryptocurrency works through distributed ledger technology, typically a blockchain, which serves as a public financial transaction database. As one of the major attributes of cryptocurrencies, the decentralised control is an opposite of centralised digital currency and central banking systems.
The first decentralised cryptocurrency, Bitcoin, was created in 2009. Along with the increasing recognition of Bitcoin, the first alternative cryptocurrencies appeared, generally known as alt-coins. The idea and use of cryptocurrencies are groundbreaking: they are transforming the traditional ways of transactions, changing the approaches of voting, breaking our daily routines, and bringing about drastic changes to the world economic system. We are now at the bridge of incredible innovations.