Cryptocurrency is a type of digital or virtual currency that employs cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger enforced by a network of computers (often referred to as nodes). Unlike traditional currencies issued by governments (fiat), cryptocurrencies are typically not controlled by any central authority, making them resistant to manipulation and interference.
Cryptocurrencies allow for peer-to-peer transactions over the internet without the need for intermediaries, such as banks. The most well-known cryptocurrency is Bitcoin, which was created in 2009, but there are thousands of other cryptocurrencies available, including Ethereum, Litecoin, and Ripple, each with its unique features and use cases.
Cryptocurrencies can be used for various purposes, including online purchases, investment, and as a means of transferring value. They are often stored in digital wallets and can be exchanged for other currencies or assets. The market for cryptocurrencies is known for its volatility, and the regulatory landscape is continually evolving as governments and organizations navigate the implications of digital currencies.
```html Klarna, with over 85 million users, is entering the cryptocurrency space to stay relevant. CEO Sebastian Siemiatkowski initially called Bitcoin a "decentralized Ponzi scheme" but now sees value in…