Cryptocurrency is a type of electronic money that is employed for more security, elimination of intermediates, and anonymity of its users. This currency is internet-based exchange money that transfers capital online and without borders between users. Cryptocurrency uses decentralized technology to securely transfer money without bank interference. They are executed on a database called a blockchain. Cryptocurrencies are generated by a process called mining. Mining is possible for everyone that has the right computing system for extraction.
Banks and governments have realized the capacity of cryptocurrency. They are also a little worried about the consequences of this new currency. Despite the popularity of cryptocurrencies, it is still a speculative phenomenon.
Since its inception, many diverse crypto coins with different functionalities have been generated. The process for introducing a new coin in the market is called Initial Coin Offering (ICO). There are a few cryptocurrencies that are more popular than other coins such as Bitcoin, Ethereum, and Litecoin.