Cryptocurrencies are digital money work as a medium of exchange just like normal currency. Bitcoin is the first cryptocurrency. As its name suggests, it’s created, maintained, and stored using cryptography. A cryptocurrency is secure and does not involve any central authority to perform a transaction. American cryptographer David Chaum developed anonymous cryptographic money and after that, considerable efforts made in that direction. The technical architecture of cryptocurrencies was created by Satoshi Nakamoto, a pseudonymous person or group of persons.
It has been making headlines worldwide since its launch and people are still skeptical about its use in day-to-day transactions.
There are a number of cryptocurrencies in the market in either evolving or dying phase.All transactions are represented by ledger entries into the system and are managed by a community of miners.