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Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate independently of central banks. Bitcoin, launched in 2009, was the first and remains the most well-known. Since then, thousands of cryptocurrencies have emerged, challenging traditional notions of money, banking, and financial regulation.
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At their core, cryptocurrencies aim to decentralize finance. Unlike traditional currencies controlled by central banks, crypto is based on blockchain technology — a distributed ledger maintained by a network of computers. This allows for transparent, tamper-proof transactions without the need for intermediaries like banks.
