What is Crypto currencies

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous cryptocurrencies have been created.These are frequently called altcoins, as a blendof bitcoin alternative.Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/central banking systems.The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger.