Cryptocurrency is a digital or virtual currency that operates on a decentralized network using blockchain technology. It is secured by cryptography, making it nearly impossible to counterfeit or double-spend. Unlike traditional currencies, cryptocurrencies are not issued or backed by a central authority such as a government or bank, and their value is determined by market demand and supply. Transactions are verified and recorded through a consensus mechanism, typically proof of work or proof of stake, which ensures the integrity of the network without the need for intermediaries like banks.
