Cryptocurrency is any digital store of value that one can exchange for goods and services.
Cryptocurrency was initially conceived as a way of as a virtual currency and alternative form of payment versus traditional banking.
All cryptocurrency transactions are recorded on a blockchain public ledger. You can think of a blockchain similar to your account history on an online bank account. Transaction information gets stored in “blocks” that can be “chained”
Every transaction includes three critical pieces of information: Input, Output, and Amount.
Each wallet consists of two random strings of characters. The first string acts like a username to signify your account on the blockchain, while the second is a private key or password.
Blockchain technology is often described as “hack-proof” because any hacker would need to modify all blocks simultaneously to ensure that the chain was in agreement.