A digital asset, or currency. Strong encryption techniques are used to
control how units of cryptocurrency are created and to verify transactions.
Cryptocurrencies generally operate independently of a central bank, central
authority or government. It can be exchanged for goods and services by those
willing to accept it.
It's considered pseudo-anonymous. Every Bitcoin transaction is captured on
the blockchain, which is a public ledger of transactions similar to what you
would find in an accountant's office. It's an electronic record of every
transaction, which includes details such as the amount sent and the
addresses involved. But the owner's identity is never displayed. Many cyber
criminals use cryptocurrency due to its pseudo-anonymity.
