Crypto

Crypto, short for cryptocurrency, refers to digital or virtual currencies that use cryptography for secure financial transactions. Blockchain technology underlies many cryptocurrencies, providing a decentralized and distributed ledger system that records all transaction data across a network of computers. Unlike traditional currencies issued by governments (fiat), cryptocurrencies operate on a peer-to-peer basis and are typically not regulated by any central authority. This allows for greater anonymity and control over one's finances, but it also introduces risks such as volatility and the potential for fraud. Cryptocurrencies can be used for various purposes, including online purchases, investment, remittances, and as a means to raise funds through Initial Coin Offerings (ICOs). Popular examples include Bitcoin, Ethereum, and Ripple. The rise of crypto has spurred debates about the future of money, financial regulation, and the implications for economic systems worldwide.