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Cryptocurrencies

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Cryptocurrency is a transaction medium that uses cryptographic principles to ensure transaction security and control the creation of transaction units. Cryptocurrency is a type of digital currency. Bitcoin became the first decentralized cryptocurrency in 2009, and since then, the term cryptocurrency has mostly referred to such designs. Since then, several similar cryptocurrencies have been created, commonly referred to as altcoins. Cryptocurrencies are based on decentralized consensus mechanisms, in contrast to banking and financial systems that rely on centralized regulatory systems.

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