on-03 What is Cryptocurrency (Digital Currency)?

A Cryptocurrency or Digital Currency is a currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of cryptocurrencies is that they are not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Good examples of cryptocurrencies would be Bitcoin, Ether and Litecoin.